Housing is Canada’s biggest problem and this announcement is half what the oil industry gets every year, not counting the $100B+ in recently announced subsidies.
Carney said $13 billion is earmarked for the new agency, which will help fund the construction of 4,000 modular homes on an initial six sites across the country — with capacity to scale up to 45,000.
That’s 4,000 on each site, right?
RIGHT?
So which private company is going to administer this for 95% of the funding and ignore anyone that tries to use it’s “programs”? And what degree of consanguinity with Liberal Party hacks will one need to bid for the contract?
This just feels so half assed. I had higher hopes for this guy, I know he can’t totally rock the boat, but we need someone to get the paradox of stupid high housing costs and super low wages vs PPI vs terrible growth and investment figured out. If this dude can’t at least kickstart that, I’m not sure anyone can. But this ain’t it.
People who aren’t hell-bent on solving every problem via market solutions are the ones who can do this. The solutions for housing are known and have been tested across Canada, UK and Europe prior to the neoliberal era. Theoretically they could implement some of those using private builders by controlling the loan/financing side of things, like China does. Ana Bailao being appointed as the CEO of the new institution is a positive sign. Apparently BCH would be buying up older rental buildings to keep them in operation instead of letting them be demolished and replaced with luxury condos for higher profit. That’s just what’s about to happen to a rental complex in my neighbourhood. Hundreds of families are about to be kicked out and have their rent drastically increase. Likely some would end up on the street. There’s a park nearby.
