this post was submitted on 14 May 2025
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Should home prices go down? ’No,’ says Canada’s new housing minister (globalnews.ca)
submitted 1 week ago by cm0002@lemmy.world to c/canada@lemmy.ca
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[–] Arkouda@lemmy.ca 34 points 1 week ago (16 children)

When asked by reporters if he thinks home prices need to go down, he told reporters: “No, I think that we need to deliver more supply, make sure the market is stable.”

Robertson said his work as housing minister will focus on building up supply of affordable housing in Canada.

“We need to be delivering more affordable housing. The Government of Canada has not been building affordable housing since the ’90s and we’ve created a huge shortage across Canada,” he said.

He sure did say a lot more than "No" didn't he Global News?

[–] kbal@fedia.io 1 points 1 week ago (7 children)

He used more words, but "no" is the important one there.

[–] Arkouda@lemmy.ca 3 points 1 week ago (1 children)

It is only important if one wishes to ignore the basic economic principle of "Supply and demand". More supply, less demand, lower price.

[–] kbal@fedia.io 0 points 1 week ago (1 children)

It's centrally important and means that they are still in denial. Real prices must come down — as you say, due to basic principles of supply and demand — if the problem is going to be solved. But they cannot be allowed to come down, because that's another financial crisis waiting to happen. And nobody wants more general inflation either, when we've so recently been reminded how much it sucks. It's quite a dilemma.

[–] Arkouda@lemmy.ca 1 points 1 week ago (1 children)

It’s centrally important and means that they are still in denial. Real prices must come down — as you say, due to basic principles of supply and demand — if the problem is going to be solved. But they cannot be allowed to come down, because that’s another financial crisis waiting to happen. It’s quite a dilemma.

Can you elaborate?

[–] kbal@fedia.io 0 points 1 week ago (1 children)

The current problem is that housing prices are too high and must come down. Getting the government back into the business of directly building affordable housing is one effective way to accomplish that. If whatever they do doesn't bring prices down then they haven't done enough, and the problem remains.

[–] Arkouda@lemmy.ca 1 points 1 week ago (1 children)

Getting the government back into the business of directly building affordable housing is one effective way to accomplish that.

Is this not the plan?

[–] kbal@fedia.io 2 points 1 week ago (1 children)

To quote the minister, "no."

The Globe and Mail pointing out the obvious a year ago: "Cutting shelter costs while ensuring that homeowners’ property values remain high could be viewed as contradictory."

[–] Arkouda@lemmy.ca 2 points 1 week ago

To properly quote the Minister.

“No, I think that we need to deliver more supply , make sure the market is stable.”

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