WeConstruX’s Post

As Canada's housing crisis intensifies, British Columbia is taking the lead in finding solutions, while Ontario struggles to keep up. According to Mike Moffatt, economics professor, and policy director at the Smart Prosperity Institute, B.C. is building new housing units at a rate that outpaces its population growth, with Alberta and Atlantic Canada also showing strong housing productivity. Although B.C. experienced an 8% drop in housing starts compared to last year's record-setting figures, its production still exceeds the five-year average. Conversely, Ontario has seen a 17% decline, continuing a downward trajectory since 2021. Moffatt warns that Ontario's housing production isn't keeping up with population growth, posing deeper challenges ahead. Building permits, a key indicator of future housing development, have surged by 15.4% in B.C. in 2024, signaling continued growth. In contrast, Ontario shows no similar momentum, pointing to potential long-term housing challenges. At WeConstruX, we see this housing crisis as both a challenge and an opportunity. Proactive, sustainable construction practices are essential to meet rising demand while minimizing environmental impact. With the right investments in infrastructure and planning, provinces like Ontario can reverse the trend and build a more sustainable future. We remain committed to being part of the solution, partnering with communities and stakeholders across Vancouver's Lower Mainland to deliver sustainable, long-term housing solutions. "#WeConstruX #SustainableHousing #UrbanGrowth #HousingSolutions #GreenBuilding #SmartCities #ConstructionInnovation"

As Canada's housing crisis intensifies, British Columbia is taking the lead in finding solutions, while Ontario struggles to keep up. According to Mike Moffatt, economics professor, and policy director at the Smart Prosperity Institute, B.C. is building new housing units at a rate that outpaces its population growth, with Alberta and Atlantic Canada also showing strong housing productivity. Although B.C. experienced an 8% drop in housing starts compared to last year's record-setting figures, its production still exceeds the five-year average. Conversely, Ontario has seen a 17% decline, continuing a downward trajectory since 2021. Moffatt warns that Ontario's housing production isn't keeping up with population growth, posing deeper challenges ahead. Building permits, a key indicator of future housing development, have surged by 15.4% in B.C. in 2024, signaling continued growth. In contrast, Ontario shows no similar momentum, pointing to potential long-term housing challenges. At WeConstruX, we see this housing crisis as both a challenge and an opportunity. Proactive, sustainable construction practices are essential to meet rising demand while minimizing environmental impact. With the right investments in infrastructure and planning, provinces like Ontario can reverse the trend and build a more sustainable future. We remain committed to being part of the solution, partnering with communities and stakeholders across Vancouver's Lower Mainland to deliver sustainable, long-term housing solutions. "#WeConstruX #SustainableHousing #UrbanGrowth #HousingSolutions #GreenBuilding #SmartCities #ConstructionInnovation"

CANADA’S HOUSING CRISIS: Canada's housing shortage is a complex issue influenced by economic growth, demographic changes, and policy decisions. While efforts are underway to increase housing supply, current projections indicate that the number of new dwellings completed by 2025 will fall short of what's needed to fully address the shortage. Continued collaboration between federal and provincial governments, along with the private sector, is essential to develop and implement effective strategies to meet Canada's housing needs. #HousingShortage #CanadaHousingCrisis #AffordableHousing #HousingDemand #RealEstateMarket #UrbanDevelopment #HousingSupply #CanadianEconomy #ConstructionChallenges #SustainableHousing #OntarioHousing #BCHousing #QuebecHousing #AlbertaHousing #ImmigrationImpact #HousingSolutions #HousingAffordability #RealEstateTrends #CMHC #HousingProjections

🏠 Canada’s housing crisis is a complex issue, and here are 8 things that are driving it: 1️⃣ Supply & Demand Imbalance: Population growth is outpacing new construction, leaving many without affordable housing options. 2️⃣ Rising Costs: Home & rent prices have increased substantially in the last decade, and are putting the squeeze on Canadians, especially in the high-population areas. 3️⃣ Lack of Affordable Rentals: Less than 1% of rentals in major cities are both vacant and affordable. 😱 4️⃣ Restrictive Zoning: Planning and zoning rules often limit housing developments, especially near transit and urban centers. 5️⃣ High Construction Costs: Inflation, labour, and material costs are making it tougher for developers to build new homes, especially affordable ones. 6️⃣ Government Actions Needed: While some initiatives are in place, we need changes and incentives to boost supply while cooling demand. 7️⃣ Investment Demand: Homes are increasingly seen as investment assets, pushing prices up and reducing availability for families and first-time buyers. 8️⃣ Regional Differences: The crisis varies across Canada, with some areas faring better than others due to local policies and economic conditions. In reality, fixing the current housing problems in Canada requires a multi-faceted approach from all levels of the public and private sector. It can be fixed. The question is whether those who have the power to do so are willing to make the tough decisions. Short term sacrifices for long term benefits. What’s your take? Comment! 👇 #HousingCrisis #AffordableHousing #CanadaRealEstate #SupplyAndDemand #HomeAffordability

**Title: Canada Housing Crises and The Complexities of Expanding Cities and Developing New Ones** The notion of expanding cities or creating new ones on open land may appear to be a straightforward solution for the housing crisis, but it is far more complicated. First, expanding existing cities faces challenges such as high land costs, entrenched zoning laws, and infrastructure limits, which can make growth difficult and expensive. Developing new cities requires substantial upfront investment in infrastructure like roads, water systems, and utilities, which can be financially burdensome and slow to materialize. Additionally, open land development can have significant environmental impacts, including habitat destruction and increased carbon emissions. It also involves navigating complex regulatory and zoning hurdles that can delay or prevent development. Moreover, creating vibrant, functioning communities takes time—building not just housing, but also schools, healthcare, and other essential services are important if we desire a self sustaning City . Finally, there's the issue of economic feasibility. The high costs associated with new developments and the risk of not attracting enough residents to sustain the city can make such projects risky. Instead of focusing solely on new land development; investing into improving existing infrastructure and repurposing underused areas might offer more immediate and practical solutions.

What does targeting the right housing supply in Canada look like? 🏨 According to research conducted by the School of Cities, University of Toronto and City Building TMU, the housing supply mix strategy presents the types of housing Canada needs. These seven recommendations can help restore housing affordability in Canada. 🏗 #HousingSupplyCanada #AffordableHousing #CityBuilding #TMUResearch #HousingAffordability

I don’t doubt the Province’s broad sweeping “one size fits all” housing measures are challenging to work through. And yet, Richmond rents are in the top 5 most expensive in Canada. Supply is the only answer, a fact that’s (finally) universally agreed. Like other countries (Japan) higher levels of government are now intervening as it’s clear individual municipalities cannot create and manage the incentives, staffing, and volume to create the necessary supply. It’s time to lace up the skates and really go to work. #bcpoli #realestatedevelopment #yvrrealestate #realestatedevelopment https://lnkd.in/g_c5zK9g

Trending in #CHBAHighlights ⬇️ "Bottom line is that highly restrictive zoning in economically dynamic places not only raises housing prices there, but it also leads to lower economic output nationwide." https://lnkd.in/gWuEqSuS   It is encouraging to see the federal Housing Accelerator Fund – of which CHBA helped inform the design – aim to address barriers to boost housing supply, like zoning regulations, to help address eroding affordability. CHBA also welcomes the $6B Canada Housing Infrastructure Fund, which includes tying federal transit funding to housing supply outcomes, requiring the broad adoption of as-of-right zoning, and a 3-year freeze on increasing development charges, all CHBA recommendations.   CHBA members, subscribe to #CHBAHighlights: https://lnkd.in/gj3C6bXN

Canada’s housing crisis needs a variety of solutions. Solutions that address the immediate problem today, but also work for the long term through varying economic conditions. Already we are seeing enormous investment from the federal Liberal Government in affordable housing, changes in zoning laws by the City of Calgary designed to enable density and more housing options. This is a great start, but we need more. Watch the full video to learn more about my solutions. #housing #affordablehousing #cmhc

Ontario's ambitious goal to build 1.5 million homes by 2031 is in jeopardy. 🚧 With housing starts lagging, high interest rates, and soaring construction costs, meeting these targets seems unlikely. The GTA has seen costs to build a condo increase by 80% and a single-family home by 98% since 2019. 📈 Development charges and regulatory delays further hinder progress, adding up to $90,000 per unit. These challenges have broader socio-economic impacts, leading to low vacancy rates, high rents, and even a "brain drain" as professionals seek better housing elsewhere. 🏠 So, what can be done? Experts advocate for lowering development charges, speeding permits, and better land-use planning. Vaughan has already cut development charges back to 2018 levels, and initiatives are underway to boost housing-enabling infrastructure and reduce bureaucratic red tape. It's time for immediate, effective policy changes to ensure housing affordability and economic stability in Ontario. What are your thoughts on tackling this housing crisis? 🤔 #OntarioHousing #RealEstate #ConstructionChallenges #HousingPolicy #AffordableLiving #EconomicDevelopment