Posted 12/24/2023, 4:00:40 PM
Government Seeks Solutions to Ease Canada's Housing Shortage Amid High Prices and Rapid Population Growth
- No 'silver bullet' from the federal government to solve the housing crisis; working on adding 300,000 new housing units over 10 years
- Average home prices still very high across Canada, over $600k nationally and over $800k in BC and Ontario
- Population growing rapidly, added 430,000 in one quarter, now over 40 million total
- Only about 1/4 of population growth is from federal immigration; rest is asylum seekers, temporary workers, international students
- Working with provinces, municipalities, and international partners to manage spikes in temporary arrivals and ensure availability of housing