It’s no secret – Canada is facing a housing crisis.
The country needs programs and strategies to help build more homes that meet people where they are. It’s a national issue that requires collaboration from all leaders, political and otherwise.
The Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities, is our guest on this episode of REAL TIME, where we discuss Canada’s housing supply goals, where we can draw inspiration from, and how REALTORS® can be part of solutions.
We started by laying out some of the facts. In Canada, we need 5.8 million homes to be built by 2030 to help restore affordability and address supply challenges. Minister Fraser opens the conversation by stating, “The one thing I think everybody agrees on is we need to build more homes,” citing the housing announcements made by the federal government earlier this spring.
Increasing Canada’s skilled labour force
One of the Canadian Real Estate Association’s (CREA) recommendations focuses on growing the skilled labour force to meet the levels needed to help build the missing supply. “Even if we have a perfect municipal zoning policy in place, perfect financial policies in place, there is a limit to how many homes the Canadian economy can produce today, and we want to grow the outer boundary of that limit,” says Minister Fraser.
He cites three ways this challenge can be addressed:
- Increasing investment in training for skilled workers.
- Embracing targeted immigration programs.
- Embracing new technologies, such as home building factories.
What’s the role of prefabricated housing and modular homes?
CREA’s recommendations also reflect the need to support innovation in the housing space, including the stimulation of prefabricated housing.
“We need every kind of housing manufacturer to be building more housing, whether that’s traditional contractors doing stick-built homes, whether it’s modular housing, whether it’s panelization, mass timber,” said Minister Fraser.
Current actions in place to encourage this type of innovation include directly incentivizing the uptick of new technology or processes, and the development of the public lands initiative.
“When I actually talk to those in the sector, they tell me though incentives are appreciated, what they need even more is [more work]. If they’re going to justify a factory expansion, they needed to know there’s a pipeline of projects that will justify a bigger facility, the new piece of equipment, staffing up, whatever it may be.”
Finding a solution together
It’s clear no one group or person can solve the housing crisis in Canada alone. When asked who should be involved in the conversation outside of political leaders, Minister Fraser had this to say, “private developers and home builders should be involved. Non-profit organizations who understand the needs of specific communities can be involved. People with lived experience should be involved. Advocacy associations who understand the perspective, not just of the executive director but of an entire membership of an industry need to be involved.”
He continues, “Groups like CREA would provide an excellent example of the opportunity to engage an entire industry in a more effective and efficient way by sending representatives into these conversations.” He also points to academics and other less formal organizations, like local council meetings, who can play a role in improving Canada’s housing in both market and non-market capacities.
Minister Fraser’s message to REALTORS®
When asked what tips he’d share with REALTORS® who want to get involved but aren’t sure where to start, Minister Fraser said, “I’m grateful to REALTORS® who put the interests of their clients first. This goes without saying, but I trust the industry to ensure that they’re well informed on what policy tools may be available to their clients who are trying to save up for that down payment, who are considering whether they want to avail themselves of a 30-year amortization period.”
He continues, “Don’t assume that governments know what your experience is. It’s been extraordinary for me, before and after my time in this position, the wealth of information and experience that REALTORS® have shared about my own market in my own community, my own province of Nova Scotia, or nationally.”
We invite you to listen to the complete episode to get the full conversation. Find REAL TIME wherever you listen to podcasts.
If you’re interested in becoming a Political Action Committee (PAC) Rep, speak with your local board or association. For ongoing federal affairs updates, please visit REALTORActionNetwork.ca.
