Canada’s Housing Construction Investment Drops Again | Aug 21, 2023
Bad news for housing in Canada: Investment in residential construction is down for the fourth consecutive month, falling 4.5% recently. Ontario and Vancouver saw drops of 5.8% and 3.2% respectively, contributing to a 20% year-over-year decrease.
Single-family home construction fell 5.7% ($6.2B) in June, with a massive 24.1% decline since last June. Multi-unit construction has declined for 8 months straight, hitting its lowest point since September 2021.
The housing situation demands action, regardless of politics. Conservative plans focus on removing barriers, supporting home-building cities, and ensuring affordable housing for Canadians.