The Big Story Election 2025: The Housing Crisis
Apr 14, 2025
Tim Richter, CEO of the Canadian Alliance to End Homelessness, sheds light on Canada's urgent housing crisis. He discusses the ambitious promises of federal parties but questions if they're sufficient to truly address affordability. The conversation delves into the impact of foreign investment on housing prices and highlights the pressing need for government intervention. Richter advocates for a national housing accord and an innovative approach to the construction workforce to meet rising demands in housing availability. It's a critical call for action as elections approach.
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Housing Crisis Origins
- Canada's housing crisis is a multifaceted issue stemming from 40 years of policy changes.
- These changes include decreased affordable housing construction and increased building regulations.
Affordable Housing Definition
- The term "affordable housing" lacks a consistent, income-based definition.
- CMHC's multiple definitions often relate to market prices, not individual affordability.
Party Housing Pledges
- No major federal party pledges enough new homes to meet the 3.5 million target by 2030.
- The NDP is closest at 3 million, highlighting the ambition gap in current plans.