The federal Liberals have launched a new government housing agency that will focus on social housing. But the $13 billion announced for the Build Canada Homes agency will not be enough to solve the housing and homelessness crisis. Liberal governments have a history of funding for-profit housing developers to build housing that is unaffordable to most workers. This new Liberal government must not repeat the mistakes of the past.

Housing costs have been rising faster than workers’ wages for decades. Social housing, which is not subject to the whims of financial markets, is key to bringing affordability back into our housing system.

Checklist for Build Canada Homes

Build Canada Homes will only succeed in creating housing that workers and families can afford if it includes:

  • A detailed plan with targets and timelines for the federal government to fund and finance non-market housing providers to build 50,000 new social housing units each year for 10 years
  • A commitment to direct all Build Canada Homes funding toward building or purchasing social housing (public, non-profit, and co-operative) without private sector profiteering
  • Dedicated federal funding to provide rent-geared-to-income social housing that is no more than 30% of household income and a consistent income-based definition of affordability that is rooted in workers’ lived experiences. Right now, a number of definitions of affordability are used in federal housing programs.
  • A guarantee that public lands are provided only to social housing operators who will build housing that will remain affordable permanently

Concrete social housing plan needed

Today, only 4% of the housing stock in Canada is public, non-profit, and co-operative housing, down from 6% in 1994. Experts have called for non-market housing to make up at least 20% of Canada’s housing stock.  Non-market housing can help stabilize rents in the housing system, mitigate housing speculation and support equity-deserving communities’ access to housing.

In addition, the federal government must tie federal housing funding to enforceable rent and vacancy control and put in place clear restrictions and rules for large scale investors profiting from residential real estate.

Federal funding and financing to date has had a limited impact on those in core housing need and homelessness targets. Mark Carney’s Liberal government needs to change track from the past and commit to ensuring housing for all.