Prime Minister Justin Trudeau backtracked on Monday when asked by a reporter if he regrets saying that the housing crisis in Canada isn’t his problem.
Since Trudeau assumed office in 2015, Canada’s housing crisis has consistently deteriorated. Currently, the average home price stands at 8.9 times the median household income, exacerbating the existing housing supply shortage.
On July 31, Trudeau said he would try to help the housing situation but said “I’ll be blunt as well — housing isn’t a primary federal responsibility. It’s not something that we have direct carriage of.”
But the PM backtracked on Monday — and even took credit for the situation Canada is in now. He claimed that he’s done way more than former Prime Minister Stephen Harper ever did to make housing more affordable for Canadians.
“The point I made was that the previous government had completely walked away from housing,” Trudeau said.
“And we since 2015 have been making significant investments in infrastructure including a National Housing Strategy in 2017, including the Rapid Housing Initiative that is now on its third phase that was developed through the COVID years, including the Housing Accelerator program when we municipalities 4 billion dollars [sic].”
“Housing is a responsibility for everyone to work together on.”
Stats from Better Dwelling indicate that between 2015 – 2021, the average Canadian home price has exploded, while the average income only modestly improved.
As per the latest findings by the Canadian Real Estate Association (CREA), the average national home price surged to $668,754 in July, marking a notable 6.3 percent rise compared to July 2022.
Rent also out of control
Rent is also at an all time high in Canada. Last month, the average asking price for a one bedroom apartment was $1,860 a month, and $2,296 for a two-bedroom. July’s rent prices represent a 8.9% increase from 2022.
Some Canadians have said they plan to vote Conservative for their first time in the next election due to the housing crisis under Trudeau.