And why do we let Trudeau continue to lie to us? We all know he can't build 4 million homes in 7 years.
I watch a clip of a commentator saying it's much easier to lower immigration by 100K than it is to build 100k houses. Common Sense.
its not quite 100 K homes for 100k new comers as many arrive as a family
Canada built 253,000 in the last 12 months so 693 per day
4 million homes in 7 years is 1,566 per day
an increased pace of 225%
not going to happen
trying to double the pace of housing will drive materials and construction labor inflation. As sure as day follows night
a direct consequence of Trudeaus housing "affordability "plan. hence he is a moron.
it also works against the Bank of Canada' efforts to fight overall inflation. more evidence he is a moron (not that more evidence was required)
Trudeau must have the most incompetent economic advisors in history or he did not consult them.
Or he just ignored economic advice ...... for want of political gain.
to be clear reducing home development regulation would increase housing starts
however a lot of the red tape is at the municipal level.
municipalities have been using development as a cash cow, some belt tightening here would help to lower new home costs
however the 'plan" is to throw money at the municipalities to milk the taxpayers cow as well as milk the buyers cow ?????
Any increased pace must be at the rate the construction industry can digest.
so, the supply side "plan" is not going to address the problem and will be inflationary as "planned"
that leaves a need to address the problem from the demand side
i.e. a memo from the PMOs office to the Minister of Immigration 'hit the brakes hard''
a memo is not inflationary
efforts to increase supply at a rational achievable pace combined with efforts to slow demand would be a real "Plan"
if executed properly more homes will be built, GDP will increase without driving inflation and at lower cost to the tax payer.