Ottawa, ON – After eight years of Justin Trudeau, his Liberal Government is still failing to build the homes that Canadians need. Today, Statistics Canada reported that investment in housing plummeted by 17.9% in December, and the numbers are even worse for the multi-unit housing Canada desperately needs to get out of this housing crisis.
This is the lowest monthly level since October 2020 – when housing construction had been paralyzed by the pandemic. As a direct consequence of Liberal inaction, average asking rents for all residential property in Canada reached a record high of $2,178 in December 2023. Justin Trudeau simply isn’t worth the cost.
This collapse was particularly significant for multi-unit investment, which fell 31%. In Ontario, there was a 45.2% decline in multi-unit permits. These buildings are key to solving the housing hell that Canadians are now experiencing.
The news today is capped off with the total annual investment in housing falling by 9.7% in 2023. Trudeau has failed to get the gatekeepers out of the way so enough homes can be built for Canadians struggling to find a place to live.
Meanwhile, this massive drop in building investment in December did coincide with a boom in Liberal housing announcements and photo-ops. Trudeau continues to give hundreds of millions of your hard-earned dollars to the gatekeepers who get in the way of housing with red tape and delays. This Liberal Government doesn’t understand that Canadians can’t live in photo ops. Only common sense Conservatives have a plan to build more homes instead of more bureaucracy and bring homes that Canadians can actually afford.