Just The Facts: Brookfield And The Liberal Housing Crisis
Ottawa, ON – After a lost Liberal decade, the Liberal government has made housing unaffordable for Canadians. Habitat for Humanity released its Affordable Housing Survey last year, showing the effects that the Carney-Trudeau’s housing hell has had on Canadians.
This housing hell has destroyed Canada’s promise. According to this survey, 82 percent of Canadians now worry that the housing crisis is impacting their health and well-being, while 88 percent of renters now say the dream of homeownership is out of reach. Worse still, 59 percent of Canadians – and 75 percent of renters – are having to sacrifice basic needs such as food, clothing and their education to afford rent or mortgage payments. The survey also shows that almost one-third of Canadian Millennials would consider relocating to another country to find affordable housing, and almost half have considered delaying starting a family because they can’t afford a suitable home.
But it doesn’t stop there. Large multinational corporations, particularly Mark Carney’s company Brookfield, have capitalized on this housing shortage, viewing it as a lucrative investment opportunity. In 2024, they had a housing revenue of nearly $1.5 billion, with the average Brookfield home selling for $600,000. But it doesn’t stop there, according to Brookfield’s own report, they now own 73,337 single family lots in Canada, with a total portfolio valuation coming out to $5.3 billion.
When it comes to their rentals, Brookfield is no friend of tenants. Carney’s Brookfield has been reported to participate in increasingly prevalent renoviction tactics, where they kick out tenants living in affordable units, to then renovate those units and jack up rents. Considering Mark Carney has still refused to disclose his financial interests, such as his ownership in Brookfield, Mark Carney may have a financial incentive to keep this housing crisis going.
With Mark Carney being Justin Trudeau’s economic advisor for the last 5 years, it’s no wonder the Liberals kept taxes high and refused to slash red tape on the construction of homes. It’s so Liberal insiders could continue to monopolize Canada’s housing market. Under their watch, housing costs have doubled, rising faster in Canada than in any other G7 country. It used to take 25 years to pay off a mortgage, but now it can take 25 years just to save up for a downpayment on a home.
The choice facing Canadians is this: do the Carney Liberals deserve a fourth term after they doubled housing costs and made Canada poorer and weaker, or is it time to elect a new Conservative government that will build homes and put Canada First – for a change.