New federal Housing Minister Gregor Robertson said the way out of the real estate crisis that has consumed housing markets in Canada is to increase supply, not reduce costs.
“I think that we need to deliver more supply, make sure the market is stable,” he said to journalists as he headed into his first cabinet meeting on Wednesday. “It’s a huge part of our economy, but we need to be able to deliver more affordable housing.”
Robertson was Vancouver’s mayor between 2008 and 2018. During that time, data from the Canada Mortgage Housing Corporation shows the average price of single-family and semi-detached homes rose 179 per cent across the broader Metro Vancouver area.
