🏠 Mark Carney vs. Pierre Poilievre: Who Could Better Solve Canada’s Housing Crisis?

Canada’s housing crisis has become a national emergency—home prices remain out of reach for many, rental markets are overheated, and supply is lagging far behind demand.

As the next federal election looms, political conversations increasingly focus on who has the leadership and vision to fix it. Two names stand out for very different reasons: Pierre Poilievre, the current Conservative leader, and Mark Carney, the former Governor of the Bank of Canada (and Bank of England), widely seen as a potential Liberal leadership candidate.

So: If the question is housing—who’s the better Prime Minister? Let’s break it down.

🧱 Pierre Poilievre: The Deregulation Crusader

Philosophy: Reduce government interference, unleash the private market.

Housing Plan Highlights:

• "Remove gatekeepers": Use federal funding to pressure cities to approve more housing, faster.

• Tie infrastructure dollars to building outcomes.

• Sell federal land for housing development.

• Legalize high-density housing around transit stations and urban cores.

Strengths:

• Clear focus on supply-side solutions, especially speeding up approvals and removing zoning restrictions.

• Appeals to frustrated younger Canadians priced out of the market.

• Wants to treat housing like a productivity issue, not just a social one.

Challenges:

• Critics argue his approach may prioritize market-rate development over affordable or social housing.

• His aggressive stance on municipalities may create jurisdictional tension.

• Limited concrete detail so far on affordable rental or non-profit options.

🧠 Mark Carney: The Global Economist with Canadian Roots

Philosophy: Market-savvy, but believes in strong institutions and state intervention where needed.

Housing Approach (based on public commentary):

• Emphasizes supply and affordability, but with a more holistic lens: economic, social, and environmental.

• Has hinted at the need for climate-conscious urban planning, smarter infrastructure, and cooperative governance.

• Likely to support public-private partnerships, non-profit housing expansion, and targeted tax policies (e.g., discouraging speculation).

Strengths:

• Deep understanding of macroeconomics, interest rates, and financial stability.

• Respected globally and could attract serious investment into Canadian infrastructure.

• More likely to work collaboratively with provinces and municipalities.

Challenges:

• No political track record—unknown how he’d perform in the heat of federal politics.

• May be perceived as too technocratic or cautious at a time when bold action is needed.

• Could face internal resistance within the Liberal party if he pushes for systemic reforms.

🏘️ Side-by-Side: Housing Crisis Edition

👀 So… Who Would Be the Better Prime Minister for Housing?

The answer really depends on what you believe is at the root of Canada’s housing crisis:

• If you believe the biggest problem is supply bottlenecks and government inefficiency, Poilievre offers a fast-moving, no-frills approach to breaking gridlock.

• If you believe the crisis is also about affordability, equity, and long-term planning, Carney may offer a more balanced, systems-level solution—though how he'd implement it remains a question.

What’s clear is this: Canada needs bold leadership, coordination across all levels of government, and innovative solutions to address a crisis decades in the making. Whether that’s delivered by a battle-tested politician or a globally respected economist is a choice voters may soon have to make.

What do you think? Would you trust a bold reformer or a steady strategist with Canada’s housing future? Drop your thoughts in the comments.

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TORONTO, ONTARIO, March 5, 2025 – Home buyers continued to benefit from substantial choice in the

Greater Toronto Area (GTA) resale market in February 2025. Home sales last month were down in

comparison to the same period last year, while listing inventory remained high, providing substantial

negotiating power for homebuyers.

"Many households in the GTA are eager to purchase a home, but current mortgage rates make it difficult for

the average household income to comfortably cover monthly payments on a typical property. Fortunately, we

anticipate a decline in borrowing costs in the coming months, which should improve affordability," said

TRREB President Elechia Barry-Sproule.

“On top of lingering affordability concerns, home buyers have arguably become less confident in the

economy. Uncertainty about our trade relationship with the United States has likely prompted some

households to take a wait and see attitude towards buying a home. If trade uncertainty is alleviated and

borrowing costs continue to trend lower, we could see much stronger home sales activity in the second half

of this year,” said TRREB Chief Market Analyst Jason Mercer.

GTA REALTORS® reported 4,037 home sales through TRREB’s MLS® System in February 2025 – down by

27.4 per cent compared to February 2024. New listings in the MLS® System amounted to 12,066 – up by 5.4

per cent year-over-year. On a seasonally adjusted basis, February sales were down month-over-month

compared to January 2025.

The MLS® Home Price Index Composite benchmark was down by 1.8 per cent year-over year in February

2025. The average selling price, at $1,084,547, was down by 2.2 per cent compared to the February 2024.

On a month-over-month basis, the MLS® HPI Composite and the average selling price edged lower after

seasonal adjustment.

“With the Ontario provincial election just behind us and the federal political situation in flux, there is a lot to

consider from a policy perspective when it comes to housing. Not only do existing policy makers and those

vying for high public office need to make clear their direction on housing supply and affordability, but they

also need to be clear on how they intend to tackle issues related to trade and the economy. Clear direction

will go a long way to strengthen consumer confidence,” said TRREB Chief Executive Officer John DiMichele.

How Consumers Can Protect Themselves from Rising Living Costs Due to Tariffs

With the rising cost of goods and services driven by tariffs, many consumers are feeling the financial strain—especially in cities like Toronto, where the cost of living is already high. Tariffs on building materials, household goods, and everyday essentials can increase prices across the board, making it more expensive to own a home, rent an apartment, or even maintain a basic lifestyle.

So, how can consumers safeguard themselves against these rising costs? Here are some practical strategies to help navigate this economic challenge.

1. Reduce Housing-Related Costs

With tariffs driving up the price of construction materials, real estate prices and rental costs may continue to rise. Homeowners and renters alike should explore ways to reduce their housing expenses:

For Homeowners:

• Lock in a fixed-rate mortgage: If you haven’t already, consider refinancing or securing a fixed-rate mortgage to protect against potential interest rate hikes.
• Increase energy efficiency: Rising material costs could also mean higher renovation costs in the future. Investing in energy-efficient appliances and home improvements now can help reduce long-term utility bills.
• Explore alternative materials for renovations: If you’re planning home improvements, look for cost-effective alternatives to tariff-affected materials like steel and lumber.

For Renters:

• Negotiate your lease renewal: With market fluctuations, landlords may be open to negotiating more favorable lease terms rather than risk a vacancy.
• Consider co-living or shared housing: Splitting rent and utility costs with a roommate or housemate can help offset increasing living expenses.

2. Cut Back on Discretionary Spending

As costs for essentials rise, it’s wise to reassess non-essential expenses to maintain financial stability. Consider the following:

• Review your subscription services: Streaming platforms, gym memberships, and other monthly subscriptions can add up. Cancel any that you don’t use regularly.
• Eat out less often: Dining out and takeout can quickly drain your budget. Cooking at home and meal prepping can lead to significant savings.
• Shop smart: Look for discounts, use cashback apps, and buy in bulk when possible to lower grocery and household expenses.

3. Strengthen Your Emergency Fund

An emergency fund can provide financial security in uncertain economic conditions. If tariffs continue to drive up costs, having savings set aside can help you absorb the impact.

• Aim for 3-6 months of living expenses: This can provide a safety net in case of job instability or unexpected price hikes.
• Automate your savings: Set up automatic transfers to a high-yield savings account to build your emergency fund consistently.

4. Diversify Your Income Sources

If your salary is struggling to keep up with rising costs, consider finding additional income streams:

• Freelancing or gig work: Platforms like Upwork, Fiverr, or ride-sharing apps can offer extra income opportunities.
• Invest in passive income sources: Consider dividend stocks, rental properties, or side businesses that can generate income with minimal ongoing effort.
• Upgrade your skills: Take advantage of free or low-cost online courses to improve your job prospects and increase your earning potential.

5. Stay Informed and Adapt

Understanding how tariffs and economic policies affect your expenses can help you make smarter financial decisions:

• Follow economic news: Keep an eye on updates regarding tariffs, housing trends, and inflation to anticipate changes in the market.
• Seek professional advice: If you're struggling with rising costs, consider consulting a financial advisor to optimize your budgeting and investment strategy.
• Advocate for policy changes: Support local initiatives and government programs aimed at reducing the cost of living and increasing affordable housing options.

Final Thoughts

Rising living costs due to tariffs can be challenging, but by taking proactive steps, consumers can protect themselves and maintain financial stability. Whether it’s adjusting spending habits, securing stable housing options, or increasing income streams, planning ahead is key to staying ahead of economic pressures.

Are you looking for specific savings tips or budget-friendly solutions in Toronto? Let me know, and I can tailor advice to your needs!

How Tariffs May Impact Toronto’s Real Estate Market

The Toronto real estate market has long been a focal point for homeowners, investors, and policymakers alike. With housing affordability concerns already top of mind, new economic pressures—such as tariffs—could further complicate the landscape. But how exactly do tariffs influence the local real estate market?

Understanding Tariffs and Their Effects on Construction Costs

Tariffs are taxes imposed on imported goods, often used as a tool to protect domestic industries or respond to trade disputes. Recently, increased tariffs on essential building materials such as lumber, steel, and aluminum have raised concerns about their impact on housing development in Toronto.

Many of these materials are imported from the United States or sourced from international markets that are affected by global tariff policies. As a result, builders and developers are facing higher costs, which could be passed on to homebuyers and renters.

1. Rising Construction Costs = Higher Home Prices

Toronto’s real estate market already struggles with affordability, and increased material costs only add to the problem. A significant portion of new homes and condo developments rely on imported materials, and if tariffs raise costs, developers may need to adjust their pricing.

According to industry experts, tariffs on lumber alone can add thousands of dollars to the cost of building a single-family home. For large-scale condo projects, the financial impact could be even more substantial. With supply chain disruptions and material shortages already affecting development, new tariffs could further slow down construction and drive prices even higher.

2. Fewer New Housing Developments

Higher construction costs can also deter new development projects. If the cost of building homes becomes too high, developers may delay or cancel projects altogether. This would further restrict housing supply, which is already limited in Toronto’s high-demand market.

The slowdown in new developments could have a ripple effect, affecting not only buyers but also renters. With fewer new rental units being built, demand will continue to outpace supply, leading to increased rent prices across the city.

3. Market Uncertainty and Investor Confidence

Another key factor to consider is the uncertainty that tariffs bring to the market. Real estate investors and developers rely on stable economic conditions to make long-term financial decisions. When tariffs create unpredictable cost increases, investors may be more hesitant to commit to new projects.

This uncertainty can also influence foreign investment in Toronto’s real estate market. If international buyers perceive increased risk due to economic policies and trade disputes, they may look elsewhere for investment opportunities, reducing overall market activity.

4. Potential Policy Responses and Government Interventions

The government may respond to rising housing costs by implementing new policies aimed at affordability, such as tax incentives for developers or subsidies to offset material costs. However, these measures take time to implement and may not fully counteract the impact of tariffs.

Additionally, if trade tensions ease and tariffs are reduced, the market could stabilize. However, the timeline for such changes remains uncertain, leaving developers and homebuyers to navigate the immediate effects of higher costs.

Conclusion: A Complicated Future for Toronto’s Housing Market

Tariffs have the potential to reshape Toronto’s real estate market by increasing construction costs, limiting new developments, and creating uncertainty for investors. For prospective homebuyers, this could mean higher prices and fewer options, while renters may face rising costs due to restricted housing supply.

As policymakers and industry leaders monitor the situation, the long-term effects will depend on how the market adapts and whether alternative solutions—such as increased domestic material production or new government policies—can help offset these challenges. In the meantime, Toronto’s housing market remains as dynamic and unpredictable as ever.

Would you like me to include any statistics or references to recent policy changes?