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Originally Posted by niwell
Aside from the massive amounts of highrises under construction, anecdotally I could note what seemed like wayyy more greenfield construction in the GTA suburbs last time I flew in. Large tracts of graded land on a scale that wasn't present through most of the 2010s. The construction industry is firing on all cylinders but it's both not enough and largely not geared towards the type of housing that will solve any issues as things stand.
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I read a BMO report recently that claimed we’re actually building more units now than ever before, even taking into account our population growth. While I’m not sure how accurate that is, it is true that housing construction hasn’t declined since 2015 to explain the deep decline in affordability.
Increasing our supply of housing would obviously offset our dramatic surge in population growth in theory, but in reality there are constraints to how much an industry that is already running flat out can increase output. If it was simply a matter of increasing the import of labourers from overseas, we would have brought in a few of those amongst the 2.5 million newcomers that arrived in the last two years. Instead, the numbers suggest we are bringing in less construction labourers than in years past.
The Liberals have been asked a few times recently by media personalities to provide an estimate of how much of the 3.5 million housing deficit they expect to address, and each time they have refused to answer. The current immigration plan is similar to announcing a spending program without any plan on how to expense it. Like most of their policies, it’s clear that the current plan is to let young Canadians absorb the cost.