94
submitted 1 year ago by NightOwl@lemm.ee to c/canada@lemmy.ca
you are viewing a single comment's thread
view the rest of the comments
[-] autotldr@lemmings.world 1 points 1 year ago

This is the best summary I could come up with:


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).

Canada could need upwards of 3.5 million new homes built by the end of the decade, according to Aled ab Iorwerth, deputy chief economist with the CMHC.

He says Canada is nowhere near on track to meet that goal, and that means most Canadians, particularly those in major cities, will continue to struggle to afford housing.

"It's not only that the construction cost goes up, it's not only that the rates are up, it's not only that people can't afford their daily food and shelter โ€“ it is the fact that the government has not figured out how to streamline the process (to approve developments)."

The federal government recently waived the GST/HST on the construction of rental housing in Canada, prompting some developers to say they would add thousands of units in the coming years.

But Shaun Hildebrand, president of Urbanation, a consulting and research firm that focuses on condo and rental markets in Ontario, disagrees.


The original article contains 819 words, the summary contains 188 words. Saved 77%. I'm a bot and I'm open source!

this post was submitted on 10 Oct 2023
94 points (98.0% liked)

Canada

7187 readers
423 users here now

What's going on Canada?



Communities


๐Ÿ Meta


๐Ÿ—บ๏ธ Provinces / Territories


๐Ÿ™๏ธ Cities / Local Communities


๐Ÿ’ SportsHockey

Football (NFL)

  • List of All Teams: unknown

Football (CFL)

  • List of All Teams: unknown

Baseball

Basketball

Soccer


๐Ÿ’ป Universities


๐Ÿ’ต Finance / Shopping


๐Ÿ—ฃ๏ธ Politics


๐Ÿ Social and Culture


Rules

Reminder that the rules for lemmy.ca also apply here. See the sidebar on the homepage:

https://lemmy.ca


founded 3 years ago
MODERATORS