Areas are being devalued due to newfound flood-risk zones, and rising sea levels and wildfires make it next to impossible to rebuild homes where they were lost.
A new report from the Canadian Institute for Climate Choices (CICC), a federally funded research institute, revealed some shocking discoveries about the current and future state of Canada’s infrastructure last month. From private dwelling homes to public roads and powerlines, the very structures we rely on to live won’t be so strong/dependable if we (Canadians) don’t take climate reliance more seriously.
Canada is currently facing an unprecedented housing shortage that has led to an increase in real estate prices all over the country. With an increase of demand for houses and a diminishing supply, homebuyers are forced to adjust their expectations—settling for much less for a much higher cost. Such a hot market is leading buyers to skip essential steps, such as pre-purchase home inspections, and over-bid the asking price to even be considered by the sellers. It’s no wonder that 36 % of non-homeowners under the age of 40 have given up on ever buying a home. Moreover, those trying to avoid this inflation are moving elsewhere and starting up the cycle all over again somewhere new.
While the housing market has been an addressed topic by the federal and provincial governments, what is less noted is how the changing climate may further affect the real estate industry—only adding challenges to Canada’s existing infrastructure problems.
As explained in the CICC report, “deteriorating roads and electrical grids and slow progress in modernizing transportation corridors and public transit systems are hampering business performance, trade and economic growth.” It is clear that, as we plan for more sustainable futures, both private and public developers need to start overlooking short-term financial gains and start considering long-term risks (like climate change). We need roads, homes, and other power systems that will withstand expected volatile weather.
Flood zones due to increased rainfall and rising sea levels, amongst other temperature-related damages (tornados, hurricanes, ice storms, etc.), continue to be overlooked by government communications to affected Canadians. For example, CICC research estimates that at least half a million buildings are at risk of flooding in Canada and are currently not identified by any government-produced flood maps.
What is obvious, in light of this report, is that there is currently a lack of information or guidance on how to plan and manage for the future of safe infrastructure facing new extremes. Now is the time to consider it, or else billions of dollars in damages will haunt our future generations.
The fact of the matter is that despite Canada having the 10th lowest population density of any country, about 12 percent of our national landmass is covered by national parks and other protected areas. Pair that with a large portion of Canada being so cold it’s unlivable, we’re a bit stuck on options to expand outwards.
So, this is it. The standards and guidelines developed by governments are far from enough to prepare Canada’s existing built environment for the harmful and volatile climate that lies ahead.
Canadians need to better understand climate risks as they prepare for their futures, especially when it comes to investing in a new home. We need more published information backed by the government, such as the CICC report. Ask your local representatives to seek information on the current and future damages to your neighborhood and infrastructure, by foreseen and unforeseen risks such as extreme weather. Nearly 60% of public infrastructure is owned by our municipalities. In considering your local representatives, as a community, or as an individual, together we need to make decisions with the consideration that the climate is changing, and educate yourselves on how it will have effects on the places we live and love.
Making investments for the future may always be a challenge, still the climate warming up is here to complicate it further. The more information out there to help Canadians take the appropriate steps for planning, the better.