Soaring Canada Real Estate Prices Draw Campaign Pledges to Build Homes

By Paul Vieira
The Wall Street Journal
August 30, 2021
Category: Business & Politics
Region: Canada

OTTAWA—After a decade of trying to keep housing prices in check, Canada’s political leaders have a new tactic: build houses in an effort to drive down prices. The new strategy is unfolding in an election campaign ahead of voting on Sept. 20. …Proposals by the ruling Liberal Party include billions of dollars to accelerate urban housing starts, while the Conservatives are looking to convert government offices into housing units. …Previous policies on housing supply focused exclusively on units for low-income individuals and households. Now campaign promises are focused on homes for middle-income earners who have difficulty affording to live near where they work. …In the U.S., the Biden administration has expressed concern about housing prices. …Canada has the lowest number of housing units per 1,000 residents of any Group of Seven country, as housing construction has failed to keep pace with population growth. (a WSJ subscription may be required to access the full story)

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