Housing and auto industry crisis in Canada must be tackled by Carney, experts say [Video]

Experts across Canadian industries are waiting to see how the new federal government will patch up holes in the economy.

Earlier this week, Prime Minister Mark Carney revealed his new cabinet, a collection of policymakers he indicated would work tirelessly to fix the national economic strain.

One of the key areas the administration aims to tackle is the housing crisis, specifically through a decade-long incentive to construct 500,000 homes annually.

While the plan echoes solutions not seen since WWII, authorities within the world of Canadian real estate believe that other blind spots must be addressed in tandem with this initiative.

“That 500,000 coming in from Carney is more or less spot on with current demands. However, that isn’t going to address the issue of pricing,” Patrick Armstrong, CEO of real estate company Hyyve, told INsauga.com.

This is an ever-prevalent issue, as 80 per centof Ontario residents cited this year that they have no desire to purchase a home …