A new home is built in a housing development in Ottawa on Tuesday, July 14, 2020. THE CANADIAN PRESS/Sean Kilpatrick
OTTAWA – A new report by Canada Mortgage and Housing Corp. says government alone can’t solve the country’s housing challenges.
The report by CMHC deputy chief economist Aled ab Iorwerth says the scale of the problem is so large that the private sector must be involved.
The national housing agency says rent subsidies and more social housing are helpful, but more needs to be done.
It says there must also be increased supply of housing aimed at the market.
Home prices have eased this year as the real estate market has cooled, but they are coming off record levels earlier in the pandemic.
The report says the imperative of increasing housing supply will be even greater as Canada seeks to attract more immigrants.
This report by The Canadian Press was first published Nov. 28, 2022.
