Last week, CHRA submitted its recommendations to the House of Commons Standing Committee on Finance for Pre-Budget Consultations in Advance of the 2024 Budget.
Canada is struggling through a dramatically worsening housing crisis. Millions of Canadians – particularly those with lower incomes – have been experiencing rapidly rising housing costs, driven in large part by an extreme housing supply shortfall. The impacts of Canada’s housing shortfall disproportionately impact Indigenous peoples, newcomers, women-led households, youth, and seniors.
Despite growing need, Canada’s supply of community housing only represents less than 4% of Canada’s total housing stock: less than half the OECD and G7 averages. The inability to afford housing is becoming an increasingly tightening bottleneck to economic growth, undoubtedly contributing to the decline of Canada’s economic productivity.
The Government of Canada must put an ambitious policy agenda in place that doubles the proportion of Canada’s community housing stock to grow the Canadian economy, and make life fairer, more inclusive, and affordable for people across Canada.