The latest from Budget 2014
"The Government will continue to work with provincial and territorial governments, municipalities, the Federation of Canadian Municipalities, and other stakeholders at the community level to ensure the accessibility and sustainability of housing, including social housing, for those most in need." (The Road to Balance: creating Jobs and Opportunities, p. 206).
An acknowledgement of cracks in the housing system, specifically with our social housing stock, is an important shift for this government. However, their renewed budget commitment to work with municipalities on the sustainability of affordable and social housing without timelines or an agreement to an action plan provides no assurances of concrete results to fix Canada's housing crunch.
A stable and secure housing system is essential to community and economic growth. Like Canada's infrastructure deficit, stagnant and ad-hoc investment in affordable housing today will become a crisis that is increasingly more expensive to fix in the future.
More on housing
High home prices and record levels of household debt are pricing a growing number of Canadians out of homeownership, which places mounting pressure on an already crowded rental market and on crumbling affordable housing units.