As Prime Minister Justin Trudeau's Liberal Party and Pierre Poilievre's Conservatives both announce plans to solve the country's housing crisis, one policy analyst is warning Canada's dependence on rising home prices is one of the biggest obstacles to restoring affordability in the real estate market.
"I don't hear yet any of those party leaders talking about how they want to break our country's addiction to high and rising home prices," says Paul Kershaw, founder and lead researcher at the Generation Squeeze think tank at the University of British Columbia.
The housing crisis has also had an outsized impact on younger Canadians, according to Kershaw, who have been kept out of the incredibly hot market, while existing homeowners are able to use their "wealth windfalls" to buy investment properties.
"We then rent out to young people at very high rents," Kershaw told CTV News Channel’s Todd van der Heyden on Thursday. "We get the wealth, they get no equity."
AN "INTERESTING DAY" IN HOUSING POLITICS
Pressure has been increasing on Canada's political leaders as fears about Canada's housing crisis grow, with the federal government announcing it will remove the GST on construction of new rental apartment buildings.
"I think this is actually an interesting day politically," Kershaw says. "I love to see this competition between the Liberals and the Conservatives."
But Kershaw also warns it's key that new housing policy doesn't "inflate the value of what already exists" because years of historically low interest rates have caused "corollary damage" by driving up prices of existing properties.
"We need to incentivize and make it cheaper to build new stuff."
THE IMPACTS OF NIMBYISM
One of the key challenges to increasing the country's housing density is NIMBYism, a problem Kershaw warns is a particular concern in Canada's cities.
"Neighbourhoods really inflect the way in which councillors get elected."
Kershaw believes that tying federal funding to housing density will be a key way to incentivize municipalities to build more units, by taking the "pressure" off municipal leaders because the federal government is "taking on some of the political heat."
GRADING POLITICAL LEADERS
The Liberals have been plagued by slumping poll numbers with most suggesting that Canadians believe the Conservatives would do a better job dealing with affordability and housing concerns.
However Kershaw says that nearly every political party in Canada should get poor grades on dealing with the housing crisis in the country.
"Have you yet heard any of them say; 'Our objective is to grow a thriving economy in which home prices stall?'" Kershaw says. "Until we hear that language… we are not going to restore affordability."
Click the video at the top of this article to watch the full interview.
During a tour of the town with Mayor Richard Ireland, Alberta Premier Danielle Smith and other dignitaries on Friday, the indiscriminate nature of the wildfires could be seen everywhere, with Jasper National Park's glorious mountain peaks overlooking the devastation.
Ontario seniors are facing a cash crunch as they continue to support their kids and grandchildren at the expense of their own well-being.
It's been a calmer 24 hours on the wildfire front in B.C., but hundreds of properties remain under evacuation orders in the Central Kootenay region as anxious residents hope for the best.
Paris 2024 organizers are confident the triathlon events will take place as scheduled on Tuesday even though recent rainfall might lead to Sunday's swimming training session being cancelled due to concerns over the water quality in the Seine.
Against the rainy Paris night sky, Celine Dion staged the comeback of her career with a powerful performance from the Eiffel Tower to open the Olympic Games.
Kim Titchener knows first-hand how caring the Jasper community can be, and she's hoping to give back as much as possible now that the town and its people are in need.
Cool and wet weather continued to help crews battling the wildfires in Jasper National Park.
A three-year-old boy has been found dead a day after he went missing in a park in Mississauga, Ont., Peel police say.
Colin Tweedie has been sentenced to four-and-a-half years in federal prison in the 2019 hit-and-run death of 10-year-old Cape Breton girl Talia Forrest.
Colin Tweedie has been sentenced to four-and-a-half years in federal prison in the 2019 hit-and-run death of 10-year-old Cape Breton girl Talia Forrest.
A Winnipeg senior is getting soaked with a six-figure water bill.
A team in Fredericton, N.B. is using toothbrushes, scalpels and steamers to spray, pick, massage and brush a 1,300 kilogram limestone sculpture of two beavers that has sat in the heart of the city for more than six decades.
Cool and wet weather continued to help crews battling the wildfires in Jasper National Park.
The lawyer for a former judge whose claims to be Cree were questioned in a CBC investigation says his client is not considering legal action against the broadcaster after the Law Society of British Columbia this week backed her claims of Indigenous heritage.
Health Canada is warning some take-home naloxone kits come with bad instructions that should be ignored in favour of the correct guidance.
All of the sudden it's Kamala Harris' economy — a major opportunity as well as a possible risk for the likely Democratic presidential nominee.
Nearly two weeks after Donald Trump's near assassination, the FBI confirmed Friday that it was indeed a bullet that struck the former president's ear, moving to clear up conflicting accounts about what caused the former president's injuries after a gunman opened fire at a Pennsylvania rally.
A powerful Mexican drug cartel leader who eluded authorities for decades was duped into flying into the U.S., where he was arrested alongside a son of Joaquin "El Chapo" Guzman, according to a U.S. law enforcement official familiar with the matter.
A tanker plane that disappeared in eastern Oregon while fighting one of the many wildfires spreading across several Western states has been found, and the pilot on board is dead, authorities said Friday.
French railway company SNCF said Saturday it has made progress in partially restoring high-speed train services after acts of sabotage disrupted three major lines ahead of Friday night's Olympic Games opening ceremony on the Seine River.
A group of 45 American physicians and nurses who volunteered in hospitals across Gaza are sharing their experiences and demanding an immediate ceasefire and arms embargo.
Soon Canadians who need to reach out to the federal government could also find themselves talking to an employee who's been helped by non-human assistants.
Prime ministers of Canada, New Zealand and Australia released a letter renewing calls for an “urgent ceasefire” in Gaza on Friday morning.
The result for the April-to-May period compared to a $1.5 billion surplus for the same stretch last year.
Health Canada is warning some take-home naloxone kits come with bad instructions that should be ignored in favour of the correct guidance.
After four years of mask mandates, gathering restrictions, vaccinations and hospitalizations, British Columbia’s provincial health officer has ended the province's public-health emergency for COVID-19.
A new study published Thursday in the journal JAMA Network Open has found that the ending in the 2023 blockbuster film 'Barbie' had an influence on online search interest in terms around gynecology, the branch of medicine that deals with women’s reproductive health.
In a fresh broadside against one of the world's most popular technology companies, the U.S. Justice Department late Friday accused TikTok of harnessing the capability to gather bulk information on users based on views on divisive social issues like gun control, abortion and religion.
Already more than a month late getting back, two NASA astronauts will remain at the International Space Station until engineers finish working on problems plaguing their Boeing capsule, officials said Thursday.
SpaceX’s Falcon 9 rocket is ready to return to flight after suffering a mission-ending failure during a routine journey earlier this month.
Against the rainy Paris night sky, Celine Dion staged the comeback of her career with a powerful performance from the Eiffel Tower to open the Olympic Games.
Taylor Swift fans who missed her world tour or those who can’t get enough of her can catch her at the museum this summer.
An Irish museum will withdraw a waxwork of singer-songwriter Sinéad O'Connor just one day after installing it, following a backlash from her family and the public, it told CNN in a statement on Friday.
Lululemon Athletica Inc. says it is pausing sales of one of its new product lines that have generated complaints from consumers.
Unionized Apple retail employees in the U.S. reached a tentative agreement with the tech giant on Friday over improvement in work-life balance, pay raises and job security.
SpaceX’s Falcon 9 rocket is ready to return to flight after suffering a mission-ending failure during a routine journey earlier this month.
Ontario seniors are facing a cash crunch as they continue to support their kids and grandchildren at the expense of their own well-being.
Omaira Gill grew up counting down the days to each Olympic Games. She wasn’t especially sporty, so she ruled out the prospect of competing pretty early on. But she still harboured Olympic dreams – even just spectating would do.
Japan has never been a destination known for hiking up prices for foreigners. But overtourism – fuelled by a combination of pent-up post-COVID demands and the weak local currency – has recently prompted restaurants in the country to consider the merits of differential pricing.
Paris 2024 organizers are confident the triathlon events will take place as scheduled on Tuesday even though recent rainfall might lead to Sunday's swimming training session being cancelled due to concerns over the water quality in the Seine.
The Paris Olympics' opening ceremony got underway after a rough start to the Summer Games on Friday, with rainy skies over the Seine and suspected acts of sabotage targeting France’s flagship high-speed rail network.
McDavid and longtime girlfriend Lauren Kyle got engaged in Ontario last summer and are getting married there on Saturday.
Orillia OPP arrested and charged a driver with impaired driving after flashing their high beams.
A woman in Waterloo, Ont. is out thousands of dollars for a car crash she wasn’t involved in.
Whether it's for parking, speeding or running a red light, no one likes being issued a traffic ticket, but it’s important to be careful how you pay them.
As fire threatened people in Jasper National Park, Colleen Knull sprung into action.
Video posted to social media on Thursday morning appears to show the charred remains of a Jasper, Alta., neighbourhood.
A Saskatchewan-born veteran of the Second World War was recently presented with France's highest national order.
A local First Nations elder and veteran is helping to bring the Ojibwe language to a well-known film for the first time.
A cat who fled her Montreal home nearly a decade ago has been reunited with her family after being found in Ottawa.
A woman in Waterloo, Ont. is out thousands of dollars for a car crash she wasn’t involved in.
A swarm of bees living in a lamppost in Winnipeg’s Sage Creek neighbourhood has found a new home for its hive.
Around 100 acres of Manitoba Crown Land near the Saskatchewan border is being returned to the Métis community.
Nova Scotia is suspending the licensed Cape Breton moose hunt for three years due to what the province is calling a “significant drop” in the population.
It's been a calmer 24 hours on the wildfire front in B.C., but hundreds of properties remain under evacuation orders in the Central Kootenay region as anxious residents hope for the best.
The Vancouver Whitecaps will be looking to rewrite the script when Hollywood A-lister and Vancouver native Ryan Reynolds brings Wrexham AFC, the Welsh football club he co-owns, to BC Place for a friendly match on Saturday.
Burnaby Mayor Mike Hurley has only been chair of the Metro Vancouver Board for a few weeks, but he's already facing public pushback.
One person has been sent to hospital, and another arrested, after a stabbing that happened in Etobicoke on Friday night.
A three-year-old boy has been found dead a day after he went missing in a park in Mississauga, Ont., Peel police say.
Police are searching for a man who allegedly attempted to grab a child in east Toronto earlier this month.
During a tour of the town with Mayor Richard Ireland, Alberta Premier Danielle Smith and other dignitaries on Friday, the indiscriminate nature of the wildfires could be seen everywhere, with Jasper National Park's glorious mountain peaks overlooking the devastation.
Kim Titchener knows first-hand how caring the Jasper community can be, and she's hoping to give back as much as possible now that the town and its people are in need.
Lauren Coughlin held onto the lead Friday in the CPKC Women’s Open, while Canadian star Brooke Henderson was derailed by closing bogeys at windy and smoky Earl Grey Golf Club.
Ontario seniors are facing a cash crunch as they continue to support their kids and grandchildren at the expense of their own well-being.
A stretch of Highway 417 through Ottawa is closed until 6 a.m. Monday for the replacement of the aging Preston Street overpass. CTVNewsOttawa.ca looks at what you need to know about the Queensway closure for the replacement of the Preston Street bridge.
A family in the community of Tay Valley is picking up the pieces of their barn after it was destroyed by Wednesday's tornado near Perth, Ont.
Against the rainy Paris night sky, Celine Dion staged the comeback of her career with a powerful performance from the Eiffel Tower to open the Olympic Games.
CF Montreal surrendered three goals in the first half en route to a 4-1 setback to Orlando City Soccer Club in the group stage opener of the 2024 Leagues Cup on Friday.
Debates are flourishing over whether the growing number of people who live with seasonal allergies is because of a sexist decision by city planners.
Cool and wet weather continued to help crews battling the wildfires in Jasper National Park.
During a tour of the town with Mayor Richard Ireland, Alberta Premier Danielle Smith and other dignitaries on Friday, the indiscriminate nature of the wildfires could be seen everywhere, with Jasper National Park's glorious mountain peaks overlooking the devastation.
On a tour of the wreckage at the Jasper townsite, Mayor Richard Ireland stopped at one house, the charred remains of which had collapsed into the basement. It was his home.
Colin Tweedie has been sentenced to four-and-a-half years in federal prison in the 2019 hit-and-run death of 10-year-old Cape Breton girl Talia Forrest.
The New Brunswick Office of the Chief Medical Officer is warning about case of measles in the Moncton area in connection to a person who recently travelled internationally.
Saturday marks the second year for LatinFax, a festival that celebrates Hispanic culture and identity in Halifax.
A Winnipeg senior is getting soaked with a six-figure water bill.
A Winnipeg teen hopes to push his sporting acumen to another level. Devin Guziak, 14, is a multi-sport athlete who plays hockey, football, and track and field.
Winnipeg Beach is trying a new strategy to deal with vacant, derelict or unsightly buildings – it’s called a bylaw blitz.
Saskatchewan’s provincial crime rate ranked worst in the country for a 25th straight year in 2023, according to the Canadian Centre for Justice Statistics.
A 63-year-old man from Cowessess First Nation has died following a collision involving a truck and a train on Range Road 2060 in the RM of Elcapo.
A hot and dry week in Saskatchewan has led to the decline of crop conditions, especially in the southern and western parts of the province, according to the province’s latest crop report.
The deaths of two women on the Grand River has some questioning the lack of warning signs near a dangerous drop in Kitchener.
Police have shared the photo of a person they’re trying to identify as part of armed robbery investigation in Cambridge.
"I don't feel safe here." That's how one business owner feels after someone smashed the glass at his store in downtown Guelph.
Saskatchewan’s provincial crime rate ranked worst in the country for a 25th straight year in 2023, according to the Canadian Centre for Justice Statistics.
A small city in Saskatchewan has helped affect big changes in the way Statistics Canada reports its annual Crime Severity Index (CSI) data.
Saskatchewan’s Court of Appeal has denied a political group that opposes so-called “gender ideology” intervener status in a legal dispute over the province’s controversial pronoun law.
The driver of a commercial motor vehicle and his employer are facing charges after police stopped the vehicle for speeding on Highway 11.
A northern Ontario teen facing almost 20 serious charges in relation to alleged incidents that happened in Kapuskasing, Ont. over three years, police say.
A Sudbury commercial motor vehicle driver and their employer are facing multiple charges after provincial police stopped near the Sudbury OPP station.
In the Pool Saturday morning, London’s Maggie MacNeil advanced to the semifinals (2:30 p.m. EST) of the 100m Women’s Butterfly later in the afternoon after finishing second in her heat, and seventh overall in the preliminary heats.
This weekend, London, Ont. is celebrating Caribbean Carnival. The party has debuted at Victoria Park, inviting Londoners to come out, bring their dancing shoes, and enjoy the culture.
The London Fire Department was on scene of an early morning fire around 3 a.m. Saturday at 1864 Dundas Street.
A man was arrested after police seized cocaine, cash and a replica air pistol in a Midland residence.
A 19-year-old driver was airlifted to a trauma center after a crash left one vehicle overturned with two passengers trapped inside.
Autism Ontario is raising concerns about a lack of support for special needs students at a Simcoe County school board this coming school year.
In the Pool Saturday morning, London’s Maggie MacNeil advanced to the semifinals (2:30 p.m. EST) of the 100m Women’s Butterfly later in the afternoon after finishing second in her heat, and seventh overall in the preliminary heats.
It's the 20th running of the rodeo in the region.
CTV News has learned the identity of the doctor under investigation for allegedly accessing the data of newborn babies without authorization: Dr. Omar Afandi.
It's been a calmer 24 hours on the wildfire front in B.C., but hundreds of properties remain under evacuation orders in the Central Kootenay region as anxious residents hope for the best.
Fisheries and Oceans Canada says it has successfully untangled fishing gear on a humpback whale off British Columbia's coast that was first spotted by a ferry passenger.
Wildfire officials on Vancouver Island say an out-of-control wildfire burning west of Victoria is expected to grow in the coming days before rain and cooler temperatures can help firefighters gain an upper hand on the blaze.
A Kamloops Mountie has been charged with assault and mischief in connection to an incident that occurred last summer, Crown prosecutors announced Wednesday.
Two people are dead after a serious crash that shut down Highway 1 near Sorrento, B.C. Saturday morning.
The number of wildfires in British Columbia has flared as more lightning storms bring the potential for further fire starts.
A southern Alberta staple is set to go on sale next week despite a wet spring and hot July.
A Medicine Hat woman is facing drug trafficking charges following an investigation by Alberta Law Enforcement Response Teams.
Statistics Canada has released its crime severity index scores for 2023 and for the first time in three years, Lethbridge saw its score go up.
Wawa is one of three northern Ontario communities to receive government funding to help create and advance economic development, with the township receiving almost $300,000.
A northern Ontario driver was travelling almost 40km/h over the speed limit on Highway 69 near Greater Sudbury, police say.
Two Ontario men are facing $9,750 in fines after they tried to cover up that a bull moose was shot by mistake last October.
Unclaimed bodies are piling up in Newfoundland, and a funeral director says they likely belong to people whose loved ones couldn't get enough government help to pay for a funeral.
The owner of a refinery in Newfoundland has been charged with health and safety violations for a flash explosion at the plant in 2022 that killed a worker and injured seven others.
The Transportation Safety Board of Canada has sent investigators to Newfoundland to determine what caused a fire aboard a fishing boat that forced the crew to abandon the vessel for a life-raft, leaving them at the mercy of the waves for two days.
The Shopping Trends team is independent of the journalists at CTV News. We may earn a commission when you use our links to shop. Read about us.
