Why Can't We Build Like It's the 1970s? (2022)
The decline in affordable housing construction in Canada since the 1970s is attributed to reduced federal funding, leading to a shift in responsibility to provinces. Despite recent investment efforts, construction remains insufficient. Experts advocate for increased federal funding and taxing real estate profits to address the housing crisis.
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The article discusses the decline in affordable housing construction in Canada since the 1970s, highlighting a significant drop in the number of non-profit or co-operative homes built annually. The federal government's decision in the mid-1990s to stop funding affordable housing led to a decrease in construction, shifting the responsibility to provinces with limited success. Despite recent efforts to re-enter the housing sector with a $40 billion investment over a decade, the pace of building remains insufficient compared to historical levels. Experts emphasize the need for increased federal funding to address the housing crisis, exacerbated by decades of under-investment and a focus on individual homeownership over affordable housing. Suggestions include taxing real estate profits to generate additional funds for new affordable housing initiatives. The article underscores the importance of government intervention and community activism to bridge the gap between past housing investments and the current housing needs in Canada.
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