Steve Pomeroy is an adjunct professor in SPPA and a senior research fellow for the Centre for Urban Research and Education (CURE) at Carleton University.
Why Ottawa’s plan to ramp up construction might not bring down soaring home prices
“I don’t think there’s any evidence that will actually happen,” said Pomeroy, who has described the undersupply argument as a “myth.”
Pomeroy said statistics like those don’t adequately support the government’s undersupply argument since other important factors are left out — such as the fact that Canada has the second-largest average household size in the G7.
He said Canada’s recent pace of new housing starts has kept up with population growth — even as home prices have been hitting new record highs.
“When you look at the data, it doesn’t support this idea that we have a lack of supply, certainly at a national aggregate level,” Pomeroy said.