Should home prices go down? ’No,’ says Canada’s new housing minister - National | Globalnews.ca
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Gregor Robertson, the former Vancouver mayor, was sworn in as housing minister in Prime Minister Mark Carney’s new cabinet on Tuesday.

Gregor Robertson, the former Vancouver mayor, was sworn in as housing minister in Prime Minister Mark Carney’s new cabinet on Tuesday.

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  • Godort@lemm.ee
    2·
    17 days ago

    “We need to be delivering more affordable housing. The Government of Canada has not been building affordable housing since the ’90s and we’ve created a huge shortage across Canada,” he said.

    That sounds like the same thing. Having more affordable housing means that prices will go down.

    • Death_Equity@lemmy.world
      2·
      17 days ago

      Prices won’t decrease because demand will stay steady or increase, even with increased supply. Then there is inflation…

      Immigration in Canada went from ~250k per year in 2020 to ~1.2m in 2023. All of those people need housing and the majority will not buy a house within a year after landing. Most of them will start families and their children will need affordable housing if they don’t live with their parents until they can afford a home.

      The Canadian population will add 4 million by 2030 and they need to build 500k units per year to keep pace. They aren’t building half that currently.