The Hill Times
As inflation begins to ease—Canada’s inflation rate fell to 1.6 per cent in September 2024, its lowest level since early 2021—many may mistakenly believe that the affordability crisis is subsiding. This couldn't be further from the truth for lower-income Canadians, whose wages and government transfers have not kept pace with the skyrocketing costs of shelter, food, and other basic needs.
It could also mitigate the impact of extreme weather events, ensuring that homes protect—rather than expose—vulnerable populations from risks such as floods and heat waves. The key is a co-ordinated approach that uses public assets and innovative financing models to meet both affordability and climate goals simultaneously. An all-hands-on-deck approach involving multiple levels of government, non-profit organizations, and the private sector is needed.
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