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Liberals promise to build nearly 500,000 homes per year, create new housing entity
(www.thestar.com)
this post was submitted on 31 Mar 2025
251 points (98.8% liked)
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So it sounds like the goal is 500k houses a year at the end of a decade. I assume that means 230k-ish this year, slowly ramping to 500k in 2035. It only needs to be an extra 27k/year to make that goal.
CMHC says we need ~3.5 million houses by 2030 to get housing costs back to reasonable levels. I really want this proposal to be good, but it doesn't seem like it will be enough.
Is it better than nothing? That depends on who controls the final prices, and how much gets built.
Do you know if the CMHC analysis considers decreasing the housing costs by increasing supply till the market is forced to decrease prices, or whether it's considering public intervention like building low cost housing and selling it at cost?
The article says it'd oversee "affordable housing construction" so we'll have to wait and see how they intend to make it affordable.
I'm under the impression that it's simply increasing supply to flood the market and meet demand. I don't believe that CMHC analysis included price controls. It's been a while since I read it though.
Assuming that they've only looked at that, then by introducing useful, at-cost units on the market (rental or real estate), it might be possible to depress prices through fewer units. E.g. units like the 2-3 bedroom ones in cheap, brown multistorey buildings the CMHC used to build before condos became popular. A smaller flood of such units would bid prices down directly.
Definitely, but I don't think the CMHC study distinguishes between unit types, nor do housing start stats. I believe we had 225k starts for the last couple years. We need to increase those numbers dramatically to improve affordability.
with this one?