* Statistics Canada estimates that there were 670,000 jobs generated from housing employment in 2024, with 390,000 of those being direct jobs, and 280,000 being indirect, such as the manufacturing of products used in housing construction.
* Due to declining economic conditions, the CMHC estimates that housing starts will fall by roughly 30,000 units between 2024 and 2027.
* If that decline in starts were to occur, it could lead to as many as 100,000 jobs lost.
* This job loss would not occur all at once, but would be staggered over time, due to the nature of housing construction.
* A prolonged employment reduction would cause skilled labour to leave the sector, making it even more difficult for Canada to hit ambitious housing targets.
* When 15,000 automotive manufacturing jobs were at risk after the financial crisis, governments acted aggressively. Given that Canada needs more homes, we need to see all three orders of government take bold steps to reverse the slide in housing starts and pre-construction sales.
!ping Can&YIMBY
Q-bey on
> Lower demand (immigration) without addressing any of the underlying issues affecting supply
> Supply just lowers further to match
> Housing stays unaffordable, but now immigration is no longer preventing a recession
2 Comments
* Statistics Canada estimates that there were 670,000 jobs generated from housing employment in 2024, with 390,000 of those being direct jobs, and 280,000 being indirect, such as the manufacturing of products used in housing construction.
* Due to declining economic conditions, the CMHC estimates that housing starts will fall by roughly 30,000 units between 2024 and 2027.
* If that decline in starts were to occur, it could lead to as many as 100,000 jobs lost.
* This job loss would not occur all at once, but would be staggered over time, due to the nature of housing construction.
* A prolonged employment reduction would cause skilled labour to leave the sector, making it even more difficult for Canada to hit ambitious housing targets.
* When 15,000 automotive manufacturing jobs were at risk after the financial crisis, governments acted aggressively. Given that Canada needs more homes, we need to see all three orders of government take bold steps to reverse the slide in housing starts and pre-construction sales.
!ping Can&YIMBY
> Lower demand (immigration) without addressing any of the underlying issues affecting supply
> Supply just lowers further to match
> Housing stays unaffordable, but now immigration is no longer preventing a recession
> shocked_pikachu_face.jpg