Market Commentary - Feb 11, 2016
Market Commentary
Concerns about housing affordability are coming to a head across the country. Last week 20 of Canada's big city mayors were in Ottawa for pre-budget meetings with the Prime Minister and federal cabinet ministers. Affordable housing was a key item on the agenda.
The mayors are linking affordable housing – meaning social housing – to the Liberal government's promised infrastructure funding. But, of course, the need for affordability reaches well beyond those who require social assistance. Regular, lower and middle income earners are being locked out of home ownership, especially in the country's hottest markets. That has triggered calls for action from both public policy and business commentators.
The key concern is the loss of the labour pool, particularly in pricey, urban areas. Residents who can no longer afford to live in their hometown look for opportunities elsewhere. Experienced and qualified workers will not move to places they cannot afford.
Concerns about housing affordability are coming to a head across the country. Last week 20 of Canada's big city mayors were in Ottawa for pre-budget meetings with the Prime Minister and federal cabinet ministers. Affordable housing was a key item on the agenda.
The mayors are linking affordable housing – meaning social housing – to the Liberal government's promised infrastructure funding. But, of course, the need for affordability reaches well beyond those who require social assistance. Regular, lower and middle income earners are being locked out of home ownership, especially in the country's hottest markets. That has triggered calls for action from both public policy and business commentators.
The key concern is the loss of the labour pool, particularly in pricey, urban areas. Residents who can no longer afford to live in their hometown look for opportunities elsewhere. Experienced and qualified workers will not move to places they cannot afford.
