Canada's social housing demand rises 22% since 2018, RBC says
RY•More than 300,000 Canadian households need social housing, up 22% from 2018. RBC says 45% of social housing built before 1980 is in fair or poor condition and calls for long-term operating support tied to properties.
1. Housing needs and condition
More than 300,000 households in Canada need social housing, a 22% increase since 2018. Some 45% of social housing built before 1980 is in fair or poor condition.
2. Funding proposals
The federal government has committed $13 billion to target at least 26,000 homes over five years through the Maisons Canada initiative. RBC recommends tying affordability support to properties rather than mortgages, extending operating support beyond loan repayment, and creating a national building fund to direct financially viable properties’ surpluses toward major repairs.
