A recent report showed that Canada has fewer housing units per capita than any other G7 country.
The program will likely mainly benefit middle- and upper-income households.
In some Canadian cities, housing costs grew more than 50 per cent faster than incomes.
The federal government recently committed $1.37 billion to two major rapid transit projects in Metro Vancouver.
The laws of supply and demand apply to housing, like any other good.
Supply elasticity is a central factor in any analysis of home-price growth.
The proposal includes an open-ended zero-interest loan.
Over time, the main drivers of home prices are incomes and interest rates.
Average home prices are up almost 60 per cent in the GTA and 70 per cent in Metro Vancouver.