Despite rising population and growing demand, more housing was constructed in Canadian cities during the 1970s than what is presently being built, according to a new study released by the Fraser Institute, an independent, non-partisan Canadian public policy think-tank.
August de Richelieu
“The reality is simple: Canada is not building enough homes to keep up with population growth or basic demand,” said Steve Lafleur, senior fellow with the Fraser Institute and co-author of Canada’s Housing Mismatch: Canadians want ground-oriented homes, but not enough are being built.
The Report’s Main Conclusions
- Canada-wide, home prices are 28 per cent higher since the start of the COVID-19 pandemic, despite recent declines.
- “Ground-oriented” single-family home and townhouse prices increased by 31 per cent, compared with a 17 per cent increase in prices for apartments over the same period.
- Despite strong demand, ground-oriented housing completions declined during the 2010s, alongside a general decline in housing completions since the 1970s.
- Not only is there a widespread shortage of housing, but there is a growing mismatch between the housing types being built and those preferred by many Canadians.
- Further research should focus on the causes and consequences of this mismatch, as well as solution
“Not only is there a widespread shortage of housing, but there is a growing mismatch between the housing types being built and those preferred by Canadians,” said Josef Filipowicz, senior fellow at the Fraser Institute and study co-author.
“Clearly we should focus on the causes and consequences of this mismatch, as well as solutions for Canadians now and in the future.”
(Mario Toneguzzi is Managing Editor of Canada’s Podcast. He has more than 40 years of experience as a daily newspaper writer, columnist, and editor. He worked for 35 years at the Calgary Herald, covering sports, crime, politics, health, faith, city and breaking news, and business. He works as well as a freelance writer for several national publications and as a consultant in communications and media relations/training. Mario was named in 2021 as one of the Top 10 Business Journalists in the World by PR News – the only Canadian to make the list)
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