The National Housing Strategy Act (NHSA) enshrined the human right to adequate housing in Canadian law for the first time and created the Office of the Federal Housing Advocate and the National Housing Council as accountability mechanisms to advance this right. The Advocate is empowered to request that the Council establish a review panel to conduct hearings into systemic issues related to housing in order to provide recommendations to the Minister responsible for housing.
The Financialization of Purpose-Built Rental Housing
In June 2023, the first review panel hearing under Canada’s NHSA was launched. The Advocate, Marie-Josée Houle, elected to focus the first such hearing on the urgent issue of the financialization of purpose-built, affordable rental housing in Canada. As part of the hearing, the Advocate submitted written representations based on research commissioned by her office to examine the growing role of financial firms in the residential real estate market, long-term care, and seniors’ housing. Her representations were also informed by the submissions she received from individuals and organizations, as well as by her visits to communities across Canada to engage with rights holders, civil society, industry stakeholders, and policymakers. The submissions that were shared with the Review Panel have been removed from the document below, and this version includes some minor changes to the text regarding review panel procedure.
In September 2023, the Advocate submitted her preliminary recommendations to the panel.