Federal government’s ‘affordable housing’ strategy doomed without strong income growth

Federal government’s ‘affordable housing’ strategy doomed without strong income growth

From the Fraser Institute By Jake Fuss and Austin Thompson Economist Mike Moffatt estimated that, if Canadian wages grow at the average rate seen over the past two decades—and if home prices remain stable—it would still take 20 years for Canada to achieve housing affordability levels of 2005… In other words, reality remains at odds with the Carney government’s ambitious rhetoric about delivering so-called “affordable homes.” In a recent media sc…

FEDERAL GOVERNMENT’S ‘AFFORDABLE HOUSING’ STRATEGY DOOMED WITHOUT STRONG INCOME GROWTH

JAKE FUSS OTTAWA – In a recent media scrum, the Carney government’s new federal housing minister Gregor Robertson—former mayor of Vancouver—was asked: “Should home prices go down?” His response: “No, I think that we need to deliver more supply, make sure the market is stable. We need to be delivering more affordable housing.” Robertson’s response raises a follow-up question: what does the Carney government mean when it promises “affordable hous…