Unveiling a Controversial Housing Approach
Canada's newly appointed Housing and Infrastructure Minister, Gregor Robertson, has ignited a firestorm of debate just days into his tenure. Sworn in on May 13 as part of Prime Minister Mark Carney's cabinet, Robertson, the former mayor of Vancouver, made headlines with his stance on the nation's housing crisis. On May 14, when asked if home prices need to go down, he responded with a firm 'No,' emphasizing the need to 'deliver more supply' and maintain market stability, which he described as 'a huge part of our economy.'
This perspective has drawn both criticism and curiosity, as many Canadians grapple with skyrocketing housing costs. Robertson's assertion that the federal government should focus on building more affordable homes rather than reducing existing property values has raised questions about the feasibility of such a strategy. Drawing from his experience in Vancouver—one of the country's most expensive housing markets—he noted that the lack of affordable housing construction over decades has led to a 'huge shortage' nationwide.
Critics Question Robertson's Track Record and Vision
Robertson's past as Vancouver mayor from 2008 to 2018 has come under intense scrutiny following his recent comments. During his tenure, housing prices in Vancouver soared by nearly 150%, rents increased by 50%, and homelessness rose by 38%, according to data cited in public discussions. Critics argue that his leadership saw an explosion of unaffordability, making his appointment as housing minister a questionable choice for addressing Canada's current crisis.
Social media platforms like X have been abuzz with reactions, with many users expressing skepticism about his ability to deliver on affordable housing. Posts highlight his previous record, suggesting that his policies may prioritize protecting current homeowners' asset values over making housing accessible for new buyers. Others have pointed out that his focus on supply without addressing price reductions could perpetuate the affordability gap for younger generations and low-income families.
Can Supply Solve the Crisis Without Price Cuts?
The core of Robertson's strategy hinges on increasing housing supply through government-subsidized projects, particularly rental housing. He has acknowledged that during his time as mayor, he lacked the necessary tools to tackle affordability effectively, a limitation he hopes to overcome in his federal role. By leveraging his past experiences, Robertson aims to push for massive construction initiatives to bridge the supply gap without destabilizing the real estate market.
However, economists and housing advocates remain divided on whether this approach can work. Some argue that without addressing the inflated prices of existing homes, new supply—however abundant—may still be out of reach for many Canadians. As the debate unfolds, Robertson's early days in office signal a contentious road ahead for Canada's housing policy, with the nation watching closely to see if supply alone can mend a deeply fractured market.