Carney Pledges To Get Feds Back Into "Business of Homebuilding"

Mark Carney, former governor of the Bank of Canada and potential future Liberal leader, says the federal government needs to step up and build more homes. Speaking at a housing event in Toronto, Carney said Ottawa should get back into the "business of homebuilding" to help fix Canada’s housing crisis. He believes the federal government can help speed up construction and reduce costs by working directly with cities and provinces.

Carney pointed out that Canada used to build a lot more housing with help from the federal government. Over the years, that involvement has dropped, and now the private market can't keep up with the country’s growing needs. “We need to stop pointing fingers,” he said. “It’s time for the feds to act.”

He also supports the idea of using federal land for housing. The government owns a lot of property, and Carney thinks some of it could be turned into homes quickly. He suggested that government-backed builders or public-private partnerships could lead these projects, which would help get more homes on the market faster.

Carney’s message comes at a time when many Canadians are struggling to afford a place to live. Home prices and rents have gone up sharply in recent years, especially in big cities. The lack of affordable housing has become a major issue for voters and will likely be a key topic in the next federal election.

While Carney isn’t an elected official, he’s seen as a possible future leader of the Liberal Party. His comments carry weight, and he seems to be positioning himself as someone who wants bold action on housing. He said it's not just about economics — it’s about fairness and making sure young people can build a life in Canada.

Whether or not Carney runs for office, his push for federal homebuilding could influence policy. As the housing crisis grows, more politicians are calling for stronger federal involvement. If Ottawa follows his advice, we may see a return to the kind of government-led homebuilding not seen in decades.