What to do about housing price inflation?
Housing demand was already strong before the pandemic. But it has undeniably accelerated due to the three main factors underlying today’s housing demand: demographics, immigration, and low interest rates.
Housing Minister Ahmed Hussen, pictured at a June 2021 affordable housing announcement in Ottawa. We can’t tax our way out of a housing supply shortage, nor should we pump the brakes on immigration driving population gains that help grow our economy. The only answer is to dramatically increase housing supply across the entire housing spectrum at a rate that meets demand, writes Michael Bourque of the Canadian Real Estate Association. The Hill Times photograph by Andrew Meade