Minister argues that Federal government’s presence in housing should have continued

Housing Minister Sean Fraser argues that the federal government should never have abandoned the housing sector, as even high-income professionals struggle to find affordable housing. According to Fraser, federal governments of various political affiliations have neglected affordable housing for decades, leading to the current housing crunch. He believes that past governments primarily focused on subsidized housing for low-income individuals, but the situation has shifted as even working professionals struggle to afford homes. Fraser emphasizes the urgent need for solutions to this nationwide problem.

During a media briefing in Vancouver, Fraser expressed disbelief at the average monthly rent of $3,000 for a one-bedroom apartment in the city, questioning how seniors on fixed incomes or students repaying loans can afford such steep prices. While he couldn’t pinpoint a specific reasonable price for rent, Fraser emphasizes that individuals should not have to pay more than 30% of their income for housing.

Fraser believes that affordable housing should be available to all Canadians who work in the country. He suggests that building housing near transportation hubs would allow people to live and work in their communities easily. The Housing Minister acknowledges the need for housing across the income spectrum and states that the government is exploring ways to speed up construction through subsidies and incentives.

Fraser argues that increasing the rental supply will help drive down prices. However, he admits that predicting Canadian home prices is challenging due to various market forces. He stresses the importance of reducing the cost of living and rent by constructing purpose-built rental housing across the nation. Fraser finds it unacceptable that individuals who contribute to the country’s workforce cannot afford housing in their own communities.

© 2023 The Canadian Press