Liberals are failing to help Canadians find an affordable home

NDP Housing Critic Jenny Kwan issued the following statement:

“The housing crisis in Canada is devastating to families struggling to find a home in their community they can afford. The Liberals have neglected the housing crisis in Canada for too long, turning their backs on families that are struggling to stay in the communities where they want to live and work. Today’s Canada Mortgage and Housing Corporation's (CMHC) report confirms that housing has not kept up with Canadians’ housing needs.

According to the CMHC report, the Liberals failed to ensure there is enough affordable homes to meet the demand leaving many scrambling for homes they can afford. The report shows that two thirds of the housing supply gap is in Ontario and British Columbia where the cost of a home has skyrocketed. This cannot continue. While people are struggling to pay for groceries and gas for their cars, the housing crisis is making it even harder to keep up with the high cost of living.

For homes to be more in reach of families, the CMHC report says that an additional 3.5 million affordable housing units are needed by 2030. New Democrats have been calling on the Liberals for urgent investment to build more social and affordable homes to meet the needs of families across the country. Today’s CMHC report shows that an all-hands-on-deck approach is needed, and the Liberals must act now.

Furthermore, the Liberals’ failure to address the financialization of housing is taking away existing affordable housing options from people. The NDP has called on the Liberals to stop rewarding rich investors for buying up rental units and then jacking up the rent. This is what the financialization of housing means and it must stop.

New Democrats will continue to fight for every Canadian’s right to a home they can afford.”