New housing minister says supply, not costs, root of Canada’s real estate crisis

The newly appointed federal Housing Minister, Gregor Robertson, has outlined his strategy for addressing the ongoing real estate crisis in Canada. In a recent statement to journalists, Robertson emphasized the importance of increasing supply as a means to stabilize the housing market and make housing more affordable.

Robertson, who previously served as the mayor of Vancouver from 2008 to 2018, acknowledged the significant rise in housing prices during his tenure. He defended his record, citing a lack of support from the federal and provincial governments as a contributing factor to the crisis.

As the new Housing Minister, Robertson brings a unique perspective on the challenges faced by cities and provinces in addressing the housing affordability issue. However, urban studies expert Andy Yan cautioned that Robertson may not fully grasp the complexity of the problem, pointing to his failure to address homelessness during his time as mayor.

Despite criticism, Robertson is optimistic about his ability to make a difference in his new role. Prime Minister Mark Carney expressed confidence in Robertson’s experience and emphasized the government’s commitment to tackling housing costs. Carney outlined plans for the creation of Build Canada Homes, a government entity focused on constructing affordable housing, and pledged to remove the GST on home purchases under $1 million for first-time buyers.

Overall, Robertson’s appointment signals a shift towards prioritizing supply-side solutions to the housing crisis. With a clear policy direction and support from the federal government, Robertson is poised to make a meaningful impact on housing affordability in Canada.