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'Home sweet home' is a dying dream: Federal election promises won't solve affordable housing crisis
Housing affordability is one of the top federal election concerns. However, there is no clear solution to fix the current complex housing crisis in Canada.
The Liberal party is hoping to build on their National Housing Strategy by incentivizing developers to construct rental properties. The Conservatives are also advocating for increasing the housing supply, yet the image accompanying their housing proposals is of a suburban neighbourhood full of single-family dwellings. This is currently the most unaffordable form of housing.
The NDP has the most ambitious plan, promising to build 250,000 affordable rental units in the next five years. The parties all suggest solving the housing affordability crisis by increasing supply, especially rental and regulating foreign investment, but most importantly they focus on making it easier for people to buy a home.
Jennifer Chutter discusses why these plans and strategies appeal to Canadian voters but are still problematic.