Housing affordability is a prominent political issue in Canada, with the ruling Liberals and their main political opponents, the Conservatives, differing opinions on the rising cost of homes.

Canada's former Immigration Minister Sean Fraser, now the Minister of Housing and Infrastructure, has defended the country's high immigration levels, stating that new immigrants help developers find the workers needed to build more homes, ultimately making housing more affordable.

He urged caution to those who believe closing the door on newcomers is the answer to the housing challenges.

Developers face difficulties completing their projects due to the lack of labour force, which can be resolved by increasing immigration levels.

According to Statistics Canada’s new Housing Price Index report, new home prices have softened in 20 of the 27 cities year over year in June 2023, with home prices going down 0.7 percent yearly.

#Housing, #Fraser, #statistics

https://www.msn.com/en-ca/money/topstories/canada-has-no-plans-to-decrease-immigration-amid-housing-criticism-new-minister-says/ar-AA1eNezj

https://www.ctvnews.ca/business/canada-s-housing-shortfall-could-widen-by-another-500k-units-if-immigration-continues-at-current-pace-report-1.6505627

https://www.msn.com/en-ca/news/canada/trudeau-says-feds-arent-primarily-responsible-for-housing-but-how-responsible-are-they/ar-AA1eFSUP