More Homes, Please
The recent pickup in home building will likely need to be sustained to meet the needs of millennials, second-home seekers, teleworkers, and a growing population. Canada, in particular, needs more single-family homes in suburban areas where more people are moving to, as well as greater intensification in large urban cities. A more responsive, nimble approval process would help builders respond faster to recurring spikes in demand, limiting periods of overheating in major urban areas. This would also reduce the need for policymakers to spring into action to douse demand every time prices flare up. Better to prevent the fire than to put it out.
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Sal Guatieri
Senior Economist
Sal Guatieri is a Senior Economist and Director at BMO Capital Markets, with two decades experience as a macro economist. With BMO Financial Group since 1994, his m…(..)
View Full Profile >The recent pickup in home building will likely need to be sustained to meet the needs of millennials, second-home seekers, teleworkers, and a growing population. Canada, in particular, needs more single-family homes in suburban areas where more people are moving to, as well as greater intensification in large urban cities. A more responsive, nimble approval process would help builders respond faster to recurring spikes in demand, limiting periods of overheating in major urban areas. This would also reduce the need for policymakers to spring into action to douse demand every time prices flare up. Better to prevent the fire than to put it out.
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