Mr. Speaker, homebuilding must nearly double over the next decade to restore affordability. Up to 4.8 million new homes are needed to close the supply gap that has led to higher home prices. Now, 480,000 new housing units are needed this year to close the supply gap.
The Liberals' own housing agency says Canada needs to double construction to restore affordability. Housing starts have continued to drop: Guelph is down 78%; London, 72%; Toronto, 58%; and Hamilton, 50%. These are alarming numbers, even after these five communities received $774 million from the housing accelerator fund.
Where is the accountability?