'Recent government policies to accelerate construction are unlikely to offer a stopgap in this short time period due to the natural lags that exist in adjusting supply.' MikePMoffatt HousingCrisis canpoli
. For its part, the federal government can remove the HST and GST on new rental buildings.
Without a coinciding increase in productivity, which “has not been Canada’s forte,” any persistent demand shock is addressed by higher interest rates, which, in turn, erode affordability and raise the cost of construction. Part of the solution lies in removing workplace barriers, like credential recognition for medical professionals and engineers, allowing those already acclimated in Canada to enter the workforce. This would reduce external demand for workers — although they will still be needed — therefore easing pressure on other areas of the social system, like demand for housing.
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