The housing supply in Canada, like many other places, has been negatively impacted by the financialisation of housing. Companies like AirBnB and private equity have removed housing from the market which have increased the price of shelter for everyone, but benefiting only a few. This has led to a crisis of affordable housing for individuals and families alike. Thankfully the federal government of Canada has launched the Build Canada Homes initiative to increase housing supply while not giving into fickle market trends. The new housing will be built with an environmental lens and make use of local resources as best as possible. Let’s get building.
A central feature of Build Canada Homes is its focus on affordable and social housing rather than relying solely on market supply. The agency is mandated to build and preserve units that remain permanently affordable, including supportive housing for people experiencing homelessness, rentals for low and moderate income households, and mixed income communities that reduce stigma by serving a broad spectrum of Canadians. This emphasis has important implications. By expanding the non-market stock, the program builds a foundation of housing insulated from speculative pressures, stabilizing communities over the long term. Inclusion of mixed income developments, as seen in successful models in Vienna, ensures political support and better integration into cities. It also shifts the federal role from merely enabling private developers to directly shaping housing outcomes, embedding affordability as a permanent feature of the housing landscape.