Liberal government\u0027s plan to boost immigration is about to collide with a housing affordability crisis. Read more
Housing starts, however, will decline to 212,000 units in 2023 from 262,000 in 2022, held back by labour shortages, the high cost of materials and increased financing costs for developers, Canada Mortgage and Housing Corporation says.TORONTO — Canada’s residential construction activity has slowed in recent months due to a tight labour market and higher borrowing costs, a factor that could thwart the government’s plans to reduce a housing shortfall and add to the recovery in home prices.
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Home construction is slowing — and that's bad news for buyers and Justin TrudeauLiberal government\u0027s plan to boost immigration is about to collide with a housing affordability crisis. Read more
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Home construction is slowing — and that's bad news for buyers and Justin TrudeauLiberal government\u0027s plan to boost immigration is about to collide with a housing affordability crisis. Read more
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Canada's slowing home building is bad news for buyers and TrudeauCanada's residential construction activity has slowed in recent months due to a tight labor market and higher borrowing costs, a factor that could thwart government plans to reduce a housing shortfall and add to the recovery in home prices. That would be bad news for the Bank of Canada as it seeks to lower inflation but also a problem for Prime Minister Justin Trudeau who has vowed to improve housing affordability. While a federal election is not due until 2025, housing affordability is among the top concerns for Canadians who have grappled with supply shortages.
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