Soaring housing costs could spell 'disastrous' political consequences for Trudeau
BNN Bloomberg
The soaring cost of Canada’s housing has become a major political problem for Prime Minister Justin Trudeau as his chief rival zeros in on generational grievances over affordability.
“Failure to be seen as doing enough on housing could be politically disastrous for the Liberals,” said David Coletto, chief executive officer of polling firm Abacus Data.
The issue is particularly important for Canadians under 40 years old — a critically important demographic that Trudeau’s party couldn’t have won the last two elections without, Coletto said. His firm’s most recent poll put Pierre Poilievre’s Conservatives 10 points ahead of the Liberals.
The benchmark price for a Canadian home has more than doubled over the past decade, reaching $760,600 (US$572,470) in June. Trudeau’s government, which took power in 2015, has also steadily raised its annual immigration targets, with more than one million people arriving last year, straining an already tight housing supply.
