Ottawa, ON — Today, the Canada Mortgage and Housing Corporation (CMHC) released new data on housing starts with a headline suggesting that it was all good news, but the facts paint a different picture.
The CMHC confirmed that housing starts were substantially lower than last month. The facts show a 10% decrease in starts, which works out to nearly 29,000 fewer homes that would be built in a year.
The news is even worse when looking at the numbers for some of Canada’s biggest cities where the housing crunch is worst. In Vancouver, the reality is that housing starts are down 23% from the previous month. In Toronto, it is even worse – with a 29% decline.
All these numbers point to one thing, that the Trudeau Government is failing to fulfill their promises on new home construction and that they will not come anywhere close to building the 5.8 million new homes that their own agency says we need to solve the housing affordability crisis that has unfolded under their watch. They are spending $4 billion on a “Housing Accelerator” program but things keep going in the wrong direction. They refuse to confront the bureaucrats and gatekeepers that are preventing housing construction in our big cities. Common sense Conservatives will do the opposite, we will remove the gatekeepers, we will reward cities who actually build the homes we need and after eight years of Justin Trudeau’s housing crisis, we will bring homes that Canadians can afford.