At its ideal, the vision for a circular economy (CE) is one where the needs of an increasingly populous and wealthy global society can be met within the safe boundaries of key ecological systems and processes. Based on current trends, global material resource demand could double by 2060, outpacing the supply of constrained natural resources, generating significant environmental impacts, and hindering global economic growth. 

The Circular Economy Global Sector Best Practices series aims to provide a starting point, background resource, and rich reference source for future efforts to engage Canadian firms and innovators in the journey towards a circular economy, and to build sector-based roadmaps to a circular economy in Canada. 

A recent report by Oxford Economics placed Hamilton as the third-least affordable city in North America when it comes to housing. Only Toronto and Vancouver were listed as less affordable, whereas U.S. communities such as San Jose, New York City, and Los Angeles, famous for their high housing costs, were found to be more affordable (Hristova, 2021). Our rough estimate is that, on net, 13,000-15,000 residents left the Hamilton community between 2015 and 2020 due to a lack of housing.