Despite a desperate need for new housing, Canada’s developers are building fewer homes than they were at the height of pandemic lockdowns, a new study says – and experts say that could mean a generation of Canadians won’t be able to afford homes for most of their adult lives.
Inflation and the Bank of Canada’s response to it, has been the main reason for the slowdown, according to David Macdonald, a senior economist with the Canadian Centre for Policy Alternatives (CCPA).
The new decline in housing development started last year, when the Bank of Canada started to raise interest rates to cool the economy and combat inflation, Macdonald found in a new report for CCPA.
Look what Volkswagen and Stelantis got. Makes sense to have Junior come begging.
