Canada’s New Housing Minister Says Home Prices Don’t Need to Go Down—Here’s What That Really Means

In one of his first interviews since stepping into the role, Canada’s new Housing Minister and former Vancouver Mayor, Gregor Robertson, made a statement that’s got a lot of people talking.

Housing Minister Gregor Robertson surrounded by reporters (2025).

💬 “No, I think that we need to deliver more supply, make sure the market is stable—it’s a huge part of our economy.” he said, just days after being appointed Minister.

Naturally, this sparked questions. So, what did he really mean? And what does this mean for you? Let’s break it down. 

What Was Actually Said 

On May 14, 2025, during an interview on Parliament Hill in Ottawa, Minister Robertson was asked whether home prices need to come down. Here's his response: 

“No, I think that we need to deliver more supply, make sure the market is stable — it’s a huge part of our economy. We need to be delivering more affordable housing." 

He also reiterated the federal government’s commitment to doubling construction efforts, with a specific focus on affordable housing supply. He admitted: 

“We’ve got a lot of work to do on this, and it doesn’t happen overnight. Housing is a slow-moving creature, and we’ve got to do everything we can to speed it up.” 

 Putting This in Context 

After public reaction started rolling in, Minister Robertson took to social media to clarify his statement: 

“The question I answered was about reducing the price of a family’s current home, which for most Canadians, is their most valuable asset.” 

What he seems to be saying is this: The goal is not to hurt existing homeowners by forcing prices down, but instead to bring balance back to the market by increasing supply—especially of affordable housing. 

💬 My Take as a Mortgage Agent 

I talk to homeowners and homebuyers every day — and here’s what I know for sure: Affordability and home equity can (and should) be balanced. And that’s exactly what this conversation is really about. 

✅️ On one hand, existing homeowners rely on their equity. Their home is often their largest investment, and it can play a huge role in retirement planning. 

❌ On the other, first-time buyers are still struggling to break into the market and Minister Robertson’s comments leave a lot to be desired. 

At the end of the day, Minister Robertson’s focus on more supply is in line with what we’ve been hearing from CMHC and other experts—that the real issue is how few homes we’ve built over the last few decades compared to population growth. More building (especially affordable building) helps everyone over time. 

That said, building takes time. And in the short term, market pressures and affordability challenges aren’t going anywhere. 

🔍 What This Means for You 

If you're thinking about buying, refinancing, or just trying to make sense of what all this means for your future, you’re not alone. And you're not expected to figure it all out yourself. 

I can help you understand what’s happening in the market—and how that connects to your specific goals. Whether it’s the right time to lock in a rate, explore affordability strategies, or prepare for your first purchase, I’ll guide you every step of the way 

📲 Curious how this policy direction might affect your next move? 

Let’s talk through it — with strategy, clarity, and no pressure. 

—Melissa