Can Canada solve its housing crisis without exacerbating climate change?

In Canada, severe weather has often occurred in recent years, including ice storms in winter, fires in summer, and floods in autumn, etc., which will cause harm to houses. At the same time, there are countless tragic examples caused by the lack of commercial insurance. Home insurance is purchased by every household. When will it be able to afford the cost? With climate change causing more severe weather, it's more important than ever to check your own flood insurance. Let’s take a detailed analysis of Canadian home insurance and the various clauses in the insurance policy.

With the easing of the COVID-19 epidemic, Canada is now beginning to restore its economic development, and everything is moving in a good direction. Those who want to immigrate to Canada can start preparing their application materials and submit their immigration applications as soon as possible. , Cherish every day, the immigration investment quota system is very limited, I hope everyone can seize the opportunity, and must not miss the golden period of immigration investment in Canada.

Recently, reports of skyrocketing rents in Beijing, Shanghai and Shenzhen have been making headlines, and the topic of renting in first-tier cities has continued to rise. This is worrying the renters in the city, and the salary increase rate is far slower than the rent increase. , it’s no wonder that more and more young people are willing to empty their wallets and take on housing loans worth millions to buy a house.

The crux of Canada’s housing woes lies in a relatively simple question: How many people who need and want housing (of any type, whether it’s a home, an apartment building, a rental or a social housing unit) can afford it. There are many residential buildings in use. According to a Scotiabank report in May, Canada has the lowest number of dwellings per 1,000 residents among all G7 countries, and "the number of dwellings per 1,000 Canadians has been declining since 2016 due to substantial increases in population growth." "Put simply, a key solution to alleviating the housing dilemma is to build a lot of houses. But it adds challenges related to climate change, such as preventing uncontrolled urban expansion from eroding existing greenery and having to build more highways, which in turn will require a larger number of vehicles, trucks and SUVs.

According to Dianne Saxe, Ontario’s former Natural Environment Operations Commissioner (the last one since the office was closed by Acting Premier Doug Ford’s government), transportation Crude fuels such as gasoline and diesel are the largest contributors to greenhouse gas emissions in each province. But Hannah Teicher, a researcher at the Pacific Climate Solutions Institute at the University of Victoria, said it was possible to minimize future emissions while being consistent with housing needs. “The top priority is to maximize the use and reuse of the existing engineering capacity,” she said in an interview this week.

One of the important factors that promotes the continued rise in house prices is cheap assets. The Bank of Canada (BoC) has kept its key overnight interest rate at a historically low level of less than 2% since 2009, and so far during the pandemic, its policy rate is 0.25%. In conclusion, interest rates on five-year Swing Mortgage mortgages as low as 1.25% encourage Canadians to purchase properties and drive up housing prices. While central banks have good reasons to keep rates low, in 2009 it was to stimulate the economy after a downturn and more recently in response to the pandemic.