Keller: Is the Trudeau government overselling how much housing it can build? Yes

Indeed, particularly in the next few years if not more. Likely will not help their electoral prospects given time required to build new housing:

…When CIBC economist Benjamin Tal updated the CMHC estimate earlier this year, to account for recent unprecedented population growth because of immigration, he pegged the shortfall at closer to seven million homes.

If that’s true, then getting to housing affordability doesn’t just mean a doubling of the pace of home building. It would take a quadrupling.

The Trudeau government’s sudden burst of furious housing announcements – plus the suggestion that the resistance of some provinces is all that stands between Canada and sweet affordability – may deliver political dividends in the run-up to a 2025 election.

However, the overnight erection of a glittering skyline of new housing policies comes after the government spent years ignoring the growing stresses caused by its immigration choices. That’s partly what got us here.

The Liberals are now saying a lot of the right things on both housing and immigration. It’s a start. But to quote a handwritten note from the PM’s chief of staff, Katie Telford, which was entered into evidence last week at the foreign interference inquiry: “Bragging is not doing.”

Source: Is the Trudeau government overselling how much housing it can build? Yes