Why are we building fewer homes now than during the worst of the pandemic?
Posted October 17, 2023 7:24 am.
Last Updated October 17, 2023 7:32 am.
In today’s Big Story podcast, now that we know how huge the gap on housing is — Canada needs 3.5 million more homes by 2030 — you would think governments across the country would be doing everything they can to narrow it. But instead, it’s widening.
In fact, our rate of building new homes has slowed to less than what it was during 2020, when many construction sites were shuttered for weeks during the first wave of COVID.
David Macdonald is a Senior Economist at the Canadian Centre for Policy Alternatives (author of Canada is building fewer homes today than during pandemic economy shutdown).
“We need to double the rate of construction of residential housing. It’s a big goal. and it’s not happening,” said Macdonald.
How did this happen? Why aren’t companies building? And if they won’t, why aren’t governments? Why is the problem every party acknowledges is Canada’s biggest challenge still getting worse?
