What Justin Trudeau Said He Would Do (LPC Platform 2015)
“We will make it easier for Canadians to find an affordable place to call home.
Today, one in four Canadian households is paying more than it can afford for housing, and one in eight cannot find affordable housing that is safe, suitable, and well-maintained.
When affordable housing is in short supply, Canadians feel less secure and our whole economy suffers.”
What the Reality is After 8 Years of Justin Trudeau
Rather than making housing more affordable, average house prices have nearly doubled ($454,976 to $729,000), average mortgage payments have more than doubled ($1,418 to $3,357) and average rents have doubled ($973 to $1861 for a one-bedroom apartment) after eight years of Justin Trudeau.
Vancouver is the third most overpriced market in the world. Toronto is the tenth.
In numerous border towns, Canadians live in homes more than three times as expensive as a similar home on the US side of the border. (Niagara Region: $690,000 in Canada vs $210,775.20 in US).
Canada ranks 64th in the OECD in the time it takes to get a building permit. Government red tape adds as much as $1,300,000 to each house in some cities, and the Prime Minister has made it worse by giving gatekeepers that block building more money.
Under Justin Trudeau fewer houses are being built, worsening the housing shortage. The trend in housing starts has been declining steadily since November 2022. In May, the trend was 230,205 units, down 4.2% from 240,318 units in April.
Data released from CMHC alongside its housing supply report shows annualized starts were down 11.2 per cent month over month in March. Across the first quarter of this year, total starts were at their lowest level since the early pandemic in 2020. (Global News, April 19, 2023).