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02.05.2022 / 04:15

Canada’s plan to ease runaway housing prices could backfire on Trudeau: experts

housing prices by rapidly ramping up the pace of home construction risks pushing up construction costs in the near term and could lead to oversupply in the long run, experts said.Vowing to double homebuilding to keep up with population growth and address a shortfall that has helped fuel a real estate boom, Prime Minister Justin Trudeau’s Liberals last month outlined plans to build 3.5 million homes over the next decade. 63% of Canadian non-owners have ‘given up’ on ever buying a home: Ipsos But experts argue Canada’s housing shortage is not nearly as acute as the government suggests, noting starts are running at historic levels – around 250,000 a year – with a record number of units under construction, though completions lag.“I think we definitely need new supply to meet increasing household growth as a result of immigration.

Justin Trudeau Canada experts Government reports

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