Easing inflation could help Canada’s housing shortage, Fraser says
An election must be held by October 2025 and the ruling Liberals trail in the polls amid accusations from the opposition Conservatives that Trudeau has mismanaged the economy and made housing unaffordable.is one that the opposition Conservatives have seized on, with leader Pierre Poilievre last week citing figures showing rents and mortgage payments roughly doubling since the Liberals took power in 2015.
Critics say one reason for the crunch is an immigration plan that seeks to attract more than 400,000 people a year, or 1 per cent of the population, without addressing where newcomers will live.Housing is primarily the responsibility of lower levels of government in the provinces and municipalities. Ottawa has focused on strategies designed to speed up what it sees as a sluggish construction rate.In 2022 the federal government announced plans to double construction over the next decade.
Fraser said the pandemic hit supply chains, forcing up building costs. The Bank of Canada lifted rates to a 22-year high in July and inflation in June stood at 2.8% compared to a peak of 8.1% in June 2022.
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