Janice Myers, CEO, CREA makes a statement alongside the housing coalition in Ottawa (CPAC)
As economic uncertainty mounts over escalating trade tensions with the United States, a coalition of organizations, including the Canadian Real Estate Association (CREA), is urging governments to include housing in their response.
Housing Canada: A Sovereign Plan to Protect Canadians and Build a Resilient Housing System
Recently unveiled at a press conference in Ottawa, the coalition outlines 10 key policy initiatives aimed at stabilizing the housing market, protecting vulnerable Canadians and ensuring long-term sustainability.
“This targeted trade war by the United States has already imposed a massive degree of uncertainty in Canadian real estate markets,” says Janice Myers, CEO, CREA. “Declining confidence in our economy, the potential for job losses, and increases in the cost of day-to-day necessities will push thousands of Canadians further away from the goal of homeownership and further highlights the need for a housing system that supports all Canadians.”
The group, which includes the Canadian Alliance to End Homelessness, Habitat for Humanity Canada, and the Canadian Housing and Renewal Association, warns that the ongoing trade war will have a direct and detrimental impact on Canada’s housing market. Rising costs of building materials, a weakened economy and increased uncertainty are expected to exacerbate affordability issues and push more Canadians into housing insecurity.
Ten actionable pillars
The plan identifies 10 actionable pillars aimed at responding to the challenges at hand:
- Create an immediate housing safety net for Canadians.
- Protect renters from falling into homelessness.
- Double the share of community housing.
- Ensure access to the land and infrastructure required to build communities.
- Create resilient housing material supply chains.
- Develop a housing skills agenda for Canada.
- Reform taxes to facilitate homebuilding.
- Streamline permissions to facilitate homebuilding.
- Accelerate innovation to build faster, less expensive and better homes.
- Rapidly expand Urban, Rural and Northern Indigenous Housing.
A “Team Canada” approach
The coalition is urging policymakers to adopt a “Team Canada” approach to housing—one that prioritizes national interests and economic stability over political divides.
“Canadians need the government to act to ensure that housing is part of the government’s response to this trade war,” Myers emphasizes, adding that the country is “at a crossroad and we have a choice: We can let (a trade war) deepen our housing crisis or we can use this moment to build a stronger, more resilient housing system.”