The federal government already plans to spend billions of dollars in housing through Build Canada Homes. The Parliamentary Budget Officer this week estimated BCH will add 26,000 homes over the next five years, half of them subsidized.
That is not enough. CMHC says we need something like 5 million new homes by 2035 to restore housing affordability to pre-pandemic levels. 5k houses/year is nowhere near what we need. It's nowhere near the 500,000 housing starts/year Carney was promising during the election.