Canada's Housing Crisis
Channel: Leona Alleslev
Date: 2021-08-06

#FlashbackFriday On June 8th, I spoke on the Official Opposition’s motion to address Canada’s housing crisis. Canada has the lowest number of housing units per capita of all G7 nations. Money laundering is extensively exploited in Canadian real estate, leaving many properties vacant. In Toronto, alone approximately 40% of the condos are vacant, driving all prices up. 

The critical shortage of housing and the corresponding skyrocketing of housing prices is a serious problem that is getting worse, and not one that will fix itself. Canada’s national housing affordability crisis requires a comprehensive federal government approach combined with a sense of urgency that takes concrete action to implement it.