The City of Hamilton, along with Burlington and Grimsby, find themselves at the centre of a troubling paradox:
1. Metro Hamilton has a pre-existing housing shortage and needs to double homebuilding over the next decade to address this shortage and keep up with population growth;
2. The shortage of housing in Metro Hamilton has caused home prices and rents to rise higher than in other communities in Canada;
3. Metro Hamilton’s high home prices and rents risk pricing out the workers needed to build those homes.
Failing to address the housing shortage will not just cause living in Hamilton to become less affordable, but it will also strain the social and economic viability of the community. With an aging population, the region must attract and retain experienced workers to replace those retiring. It will need healthcare workers to care for an aging population and education workers to ensure Hamilton is a viable option for families with children.
Our new report “Who Will Swing the Hammer?”, released with support from the Hamilton Chamber of Commerce and the West End Home Builders’ Association, tackles this problem head on.
