Canada's Housing Minister Stands Firm Against Price Drops

In a bold statement on Wednesday, Canada’s new housing minister, Gregor Robertson, emphasized that the key to resolving the country’s housing crisis lies in increasing supply rather than reducing home prices.

Formerly the mayor of Vancouver, Robertson was appointed by Prime Minister Mark Carney and quickly addressed reporters after the first cabinet meeting. When questioned about whether home prices should decrease, he firmly declared, "No, I think that we need to deliver more supply, make sure the market is stable."

Focus on Affordable Housing

Robertson highlighted the urgent need for affordable housing solutions, noting that the federal government has not invested in this area since the 1990s, leading to a significant shortage. He stated, "We need to be delivering more affordable housing. That’s where the big need is right now." In a promising pledge, he expressed his commitment to double the construction of affordable housing.

Criticism from Opposition

However, not everyone is convinced. Conservative Leader Pierre Poilievre criticized Robertson, linking him to the soaring home prices in Vancouver during his mayoral term. Poilievre argued that this new direction in cabinet might signal stagnation in tackling Canada’s housing challenges.

When pressed on the controversial appointment, Prime Minister Carney defended Robertson’s selection, stating that his experience was crucial in addressing the housing dilemma. He clarified, "You would be very hard-pressed to make that conclusion" regarding whether the government was intentionally keeping property prices high.

A Call for Change from Former Leaders

This conversation comes in the wake of former Prime Minister Justin Trudeau’s remarks in September, where he acknowledged the rising prices as unsustainable, particularly affecting young Canadians. Trudeau remarked, "It’s not fair to young people who feel like cities are turning their backs on them... They feel like they can’t succeed."

As the government moves forward, the focus will be on balancing demand with adequate housing supply, aiming to create a fairer market for all Canadians.