Builders Can’t Build, Buyers Can’t Buy

July 23, 2026

July 23, 2026
FOR IMMEDIATE RELEASE

Ottawa, ON – Scott Aitchison, Conservative Shadow Minister for Housing, released the following statement on the Canadian Mortgage and Housing Corporation’s Summer 2026 Housing Outlook report: 

“Over a year and a half ago, Prime Minister Mark Carney promised to deliver 500,000 housing starts every year with the ‘most ambitious housing plan since the Second World War.’ The results are in, and it was all an illusion: Canada is building less than half what he promised, and we’re projected to build up to 21 per cent fewer homes by 2028.

“The CMHC now projects just over 200,000 housing starts in 2028 as Canada is forecast to build 241,400 housing units this year, over 17,000 fewer than last year. This comes just a week after the latest housing start figures found a 6 per cent drop in the annual pace of housing starts last month, with monthly starts in population centres over 10,000 dropping 13 per cent year-over-year. 

“As his third housing agency fails to build homes, the Housing Outlook again points out ‘high costs’ – such as development charges – as a cause of the slowdown. The report finds ‘Housing starts are expected to decline further as builders continue to respond to unsold inventories and high construction costs’ with ‘historically low levels of construction will be most visible in Ontario and British Columbia.’

 “Less construction, even with lower demand, means that prices still remain out of reach for Canadians. The report notes that ‘Rents are still high relative to income, especially when units turn over’ and projects rents to continue to rise, with the average two-bedroom projected to rise in every measured city through to 2028. In Halifax, that means $2,120 a month, while rent will reach $2,507 in Vancouver and $2,290 in Toronto by 2028.

“The continued housing affordability challenge was confirmed by the latest RateHub affordability report, which found that out of 13 Canadian cities, affordability has worsened in 11 in June 2026. Rising mortgage rates and housing prices have driven up the incomes required to purchase a home and monthly mortgage payments in 11 of the cities.

“Since May, the income required to become a homeowner has risen by $4,670 in Calgary, $2,380 in St. John’s and $1,670 in Regina. Canadians looking to buy a home now need to earn at least $129,640 in Montreal (up $1,380), $136,550 in Ottawa ($290 more), or a whopping $226,400 in Vancouver ($1,200 higher than in May).

“Instead of removing red tape and cutting taxes to reduce the cost of construction, Prime Minister Carney is spending billions rewarding city gatekeepers who drove up the cost of housing and bailing out bankers and investors to keep prices high when condos don’t sell. 

“This is Prime Minister Carney’s housing crisis: where builders can’t build, buyers can’t buy, and sellers can’t sell. After a year and a half of more Liberal illusions, half-measures and bailouts to those who created the housing crisis, it’s clear continuing the same approach won’t deliver relief for Canadians. 

“We need a real plan that will restore our country’s promise for the generation the Liberals locked out of home ownership. Conservatives will eliminate the GST on all new homes under $1.3 million, slash development charges in half, and reduce red tape so every hard-working Canadian family can finally have a place to call home.”