What People Get WRONG About Montreal’s Housing Crisis?

Montreal’s housing crisis is frequently characterized by simplistic villains and quick solutions. Today’s episode of METROPOLIS, Host Kalden Dhatsenpa is joined by Montréal-based urban planning researcher and housing policy analyst Gavin Armitage-Ackerman to debunk some of the most persistent misconceptions and assumptions of the housing crisis.To set the scene, asking rents in montreal have surged by 71% since 2019, and vacancy rates remain at a worrisome 1%. Consequently, public frustration is palpable. Nevertheless, Gavin contends that much of the prevailing public discourse is misguided.We commence by examining the notion that homeowners benefit from the crisis. In reality, many are heavily indebted: only 23% of Canadians own their homes debt-free, and one in five mortgages at major banks are subject to negative amortization. The “homeowners vs. renters” narrative, Gavin observes, serves as a political wedge rather than a viable solution.Next, we address the claim that foreigners, whether buyers or immigrants, are responsible for the crisis. Non-residents accounted for only 4.9% of purchases in 2019. Blaming them obscures systemic issues and diverts attention from domestic speculation.Government programs designed for first-time homebuyers, Gavin argues, often exacerbate demand in an inefficient market, leading individuals into deeper debt without concomitantly reducing prices. Incentives for developers, such as Montreal’s “20-20-20” plan, exhibit similar flaws. Gentrification and loopholes can erode affordability, as exemplified in Vancouver’s Woodward’s Building project.Finally, we conclude by emphasizing that rezoning alone is not a panacea. It can engender land banking, and supply growth does not necessarily reach the unhoused or low-income populations.Gavin concludes by urging listeners to transcend scapegoats and simplistic remedies. Instead, they should advocate for structural and political transformations that recognize housing as a public responsibility rather than a mere market commodity.