July 31st' 2025: Ottawa, ON — Canada's Conservative Party has told Prime Minister Mark Carney about their worries over the present housing construction situation.
The party noted that despite the Prime Minister's promise of a big housing plan to construct around 500,000 new homes each year, stats from the Canada Mortgage and Housing Corporation (CMHC) actually point to a decrease in projected housing starts.
Originally, the CMHC predicted a dip in housing starts from 245,367 in 2024 to 232,900 by 2027. After the federal election, they changed their prediction, expecting a deeper slide to 224,948 in 2026 and 212,550 in 2027. For Toronto, forecasts show just 23,000 new homes in 2027, a drop from 37,718 in 2024.
The Conservatives are concerned that buying a home is getting tougher, mainly for younger Canadians. They mentioned that many workers—like mechanics, designers, and small business owners—have a harder time buying homes compared to past generations.
To address the housing crisis, the Conservative Party has outlined a series of policy measures. These include accelerating the permitting process to reduce delays in construction, lowering taxes for both home buyers and builders to improve affordability and incentivize development, and adjusting immigration levels to ensure that housing demand aligns more closely with available supply.
The party finished by saying they plan to tackle Canada's housing problems through real policy changes.
Source:
1. This report uses info from a Conservative Party of Canada news release
2. Shares facts without any personal opinions.