Because of this imbalance between household formation and housing construction, housing has been imbalanced. When demand is greater than supply, prices go up.
If we had a constructive strategy that was useful for the federal government, as well as for the provinces and municipalities, and led to more homes being built in a responsible way, supply-demand pressures would abate, in my view, and price pressures would lessen. That would address the affordability concerns that Canadians face today.