Just The Facts: NDP-Liberals Have Made Housing Unaffordable For Canadians
Ottawa, ON – Seven years after the NDP-Liberal Government released their so-called “national housing strategy,” the cost of housing for Canadians has never been higher. This was confirmed again today after the Parliamentary Budget Office (PBO) released a report on the core housing needs for Canadians.
According to the PBO, Canadians are barely keeping their heads above water after the NDP-Liberal government doubled the cost of housing. For homeowners, the amount of mortgage debt per person was only $45,448 in 2015. This increased to $65,604 in 2023 and is forecasted to continue to increase to $74,424 by 2027.
This is a direct result of “rising interest rates and rising average mortgage debt” after the NDP-Liberal government lost control of their inflationary spending.
Similarly, renters across Canada “have seen increases in shelter costs driven by increases in market rents.” The PBO stated that rent soared after the NDP-Liberals failed to build enough homes and lost control of immigration, estimating that rents are “26 percent higher today than they would have been” as a result of this.
In December 2024, the PBO reported that 2.6 million households will be in desperate need of better housing by 2027. This is an increase of 926,000 since 2017. On top of this, housing inflation is rising faster in Canada than in any other G7 country.
Instead of building the homes that Canadians need, the NDP-Liberal Government has continued to give billions of dollars to gatekeepers who drive up the cost of housing with taxes and red tape in exchange for pointless photo-ops.
Only Common Sense Conservatives will end the NDP-Liberal housing hell by axing the tax on new homes under $1 million and tying federal infrastructure dollars to housing construction.