Within five years, the construction of new homes in the country’s hottest markets is projected to slow to near-zero. Less construction, fewer homes, and fewer jobs – all at a time when the country needs more housing than ever.
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The federal government already plans to spend billions of dollars in housing through Build Canada Homes. The Parliamentary Budget Officer this week estimated BCH will add 26,000 homes over the next five years, half of them subsidized.
That is not enough. CMHC says we need something like 5 million new homes by 2035 to restore housing affordability to pre-pandemic levels. 5k houses/year is nowhere near what we need. It’s nowhere near the 500,000 housing starts/year Carney was promising during the election.
Next? There’s still one happening now and no reasonable path for it to end.
Yeah, I’m not sure where they get the impression that we aren’t in the middle of a crisis right now. I guess average prices in TO dropped a couple of percent, but I don’t think anyone under 50 has seen their situation improve.
The globe and mail does not inform opinion, it sucks corporate dick shamelessly and publicly. The author should be charged with public indecency.
Why are the reserve funds so large and unspent? Because we’re a metropolis and we don’t build and fund projects like subways inch by inch as development projects are done.
Their solution is always to cut taxes and have government subsidize private profits, but the math never adds up. Who’s holding the debt bag? They never pay. Shit, the author calls for socialism on development charges, but … wait for it … not the profits!
The G&M talks out of it’s ass like a junkie trying to find more heroin. Just say whatever random bullshit you think will give you the profits you are jonesing for, no matter the incoherence. Only bliss matters.
G&M - fuck you, I’m getting mine.