Rents have been increasing rapidly in many parts of the country, caused by a lack of accessible, climate-friendly, affordable and market-rate purpose-built rental units to house a growing population.
The poorest Canadians are suffering the most – newcomers, refugees, single parents, seniors, students – and the situation is worsening.
Restoring affordability will require the tripling of home building over the next nine years. The scale of this challenge is too big for government alone, with the costs to address this problem estimated to be in the trillions of dollars.
This plan will channel billions of dollars in private investment into purpose-built rental construction, provide resources to the non-profit and co-operative housing sector to increase non-profit housing, remove bottlenecks that are slowing down construction and immediately support those who are experiencing homelessness or at risk of becoming homeless with expanded housing benefits.
If implemented, this plan will drive significant economic growth, improve productivity, create jobs, put Canada on the road to ending homelessness by dramatically reducing housing need, meet our obligations to newcomers and refugees, and support the federal government’s commitment to realizing the right to housing for everyone in Canada.