TORONTO – Governments across Canada are racing to build more housing to improve affordability. Yet a new study has found those efforts risk putting hundreds of thousands of homes in harm’s way, and adding billions of dollars in costs each year, unless policy is improved to direct development away from the threat of wildfires and floods. According to new research published by the Canadian Climate Institute, building new homes in areas at a high risk of flood or wildfire could force governments, insurers, and homeowners to spend up to $3 billion more each year in costs for rebuilding and disaster relief. The Institute’s report, Close to Home: How to build more housing in a changing climate, is a first-of-its-kind analysis in Canada using original modelling of the financial costs of future floods and fires on new housing slated for construction by 2030.