Ottawa, ON – After eleven years of low growth, rising costs and unaffordable housing, Canadians continue to feel the effects of this Liberal government. Now, the Financial Accountability Office of Ontario (FAO) has shown just how bad things can get.
In Canada’s most populous province, known cases of homelessness have grown by over 23 per cent in just three years to more than 76,000. Chronic homelessness rose by more than 37 per cent in just two years, now accounting for nearly half of the known homeless in Ontario.
Meanwhile, the federal government’s latest national count found homelessness was 59 per cent higher than in 2020-22, with unsheltered homelessness up 89 per cent.
According to the FAO, lack of housing affordability played a major role, with median market rents rising 19.3 per cent in Ontario between 202
2-23 to 2025-26, while incomes for low- to middle-income households grew by just 14.1 per cent.
It’s a similar story from coast to coast to coast. The cost of living is now the biggest financial stress for 63 per cent of Canadian workers, and more than a third of renewing mortgage holders say they face greater financial pressure with higher interest rates.
Meanwhile, housing construction is down in major metros like Vancouver and Toronto, and housing starts are projected to drop by as much as 38,000 by 2028.
No surprise, then, that the FAO projects that known homelessness will increase by nearly 16 per cent in Ontario by 2028-29.
Conservatives are fighting to restore affordability so Canadians can afford a stable and dignified life once again. That’s why we want to axe the GST on all new homes up to $1.3 million, and why we want an Economic Action Plan that will kickstart new projects, end growth-killing policies, reward investment and build a stronger Canada for all.