"Mobilization and coordination" among stakeholders will help improve Canadians' lives
The Canada Mortgage and Housing Corporation (CMHC) is highlighting the role of enhancing housing affordability in improving quality of life amid the current economic challenges.
Mathieu Laberge (pictured), CMHC senior vice president, housing economics and insights, said in a report that combining housing solutions with other socio-economic strategies could be the answer to addressing the broader issues that the nation is facing.
“Some stakeholders call for the mobilization of all active housing forces in society to collaboratively support Canadian households in finding affordable and suitable homes,” he said. “This effort is aimed at ensuring individuals can secure a home that meets their needs within their financial means. I agree with this position, and I believe such mobilization and coordination is key to achieving meaningful outcomes on the housing front.”
Laberge pointed to the government’s recent efforts to address the housing crisis, including the establishment of the Minister of Housing, Infrastructure, and Communities position, the announcement of a Department of Housing, Infrastructure, and Communities in the Fall 2023 Economic Statement, and the involvement of the Canada Infrastructure Bank in housing financing.
He said this whole-of-government strategy is crucial to developing a systemic response to the housing affordability challenge but added that further involvement from a broader range of stakeholders is needed to “significantly move the needle.”
To boost the government’s efforts, Laberge called on the private sector to act as “an important source of funding, expertise and labour for increasing the supply of housing.”
He also underscored the role of the not-for-profit sector in providing affordable housing and raising awareness about housing.
“Ultimately, collaboration and coordination between governments, the private and not-for-profit sectors, and academics will play an important role in solving the Canadian housing crisis,” he said.
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