‘Not a Chance’: Construction Experts Say Government’s Bid to Build Nearly 3.9M Homes by 2031 Unrealistic

The federal government’s promise to build nearly 3.9 million new homes by 2031 is unrealistic and unachievable, construction experts told MPs. “Right now, we’re staring into a pit,” Residential Construction Council of Ontario president Richard Lyall told the House of Commons human resources committee this week, which was first covered by Blacklock’s Reporter. “When cranes come down, they’re not going back up. We’re headed down in a big way and our sub-trade pipelines are dry. It’s drying up.” When asked if the federal target of constructing 3.87 million new homes by 2031 was realistic, Mr. Lyall was blunt. “Not a chance,” he replied, adding that new housing starts are on a downward trend because of high financing costs and development charges....