Experts say the Canadian housing crisis poses a great risk to the incumbent government in the next election if it doesn't take drastic action soon.
Chris Burke and his fiancée have been less than a year away from buying their first home for the past three years.
For the federal Liberals, the growing discontent with the state of the housing market is becoming a political threat. "And especially given the significant emphasis the government has put on immigration and the relationship between immigration and the housing market, there is a need to do more." Rent prices have also skyrocketed, with some cities seeing double-digit increases over the last year.
Most experts agree that Ottawa isn't solely responsible for the problem. But many say the federal government could still be doing more to alleviate the shortage of housing at the root of the affordability crunch. The federal government has been hearing from stakeholders and housing experts on these potential solutions, as rumblings grow about a focus on housing in the coming fall economic statement and next year's budget.
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