Former Calgary city councillor Courtney Walcott correctly identified one crucial reality about the city's blanket upzoning policy: new homes built under this approach are not cheaper than the ones they replace. However, according to critics, this marks the extent of accuracy in his defense of the controversial housing strategy.
The Affordability Promise Versus Reality
In a recent Calgary Herald column published on November 21, 2025, Walcott argued that rezoning wasn't designed to make new homes cheaper. Instead, he claimed the policy aimed to prevent older homes from becoming the most expensive housing options available. To support this position, he employed a car analogy comparing new vehicles to used cars, suggesting that while new models cost more initially, their production eventually moderates market prices over time.
This argument faces strong opposition from housing advocates who point to Calgary's current market conditions. The distinction between cheaper and affordable becomes meaningless for families struggling to enter the housing market. The fundamental question remains whether typical Calgary households can actually purchase or rent homes within their financial means.
The Flawed Car Analogy
Critics highlight significant problems with comparing housing to automobile markets. While Walcott's analogy positions older homes as used cars that provide affordable options, blanket upzoning doesn't preserve this lower-cost housing stock. Instead, the policy actively targets these properties for demolition and replacement with high-priced infill developments.
Across Calgary's inner city neighborhoods, observers note a consistent pattern: modest bungalows and older rental properties are disappearing, making way for luxury multi-unit developments. Once these older, more affordable homes are demolished, no used car equivalent remains for first-time buyers or renters with limited budgets.
If the goal was truly vehicle affordability, you wouldn't crush every used Corolla and replace it with new SUVs while claiming the market will eventually correct itself, housing analysts argue. This approach represents speculative churn rather than a genuine supply solution.
Financialization and Market Pressures
The situation becomes more complex when considering Calgary's financialized housing market. The automobile analogy assumes a normal market where new supply gradually moderates prices, but Calgary's reality involves multiple additional factors:
- Investor speculation driving up property values
- Out-of-province capital seeking high returns
- Federal financing programs that incentivize multi-unit development
Blanket upzoning functions as a land-value accelerator in this environment. When every residential lot suddenly gains potential for duplex or fourplex development, the underlying land value increases immediately. This creates a scenario where families no longer compete primarily against other families but against builders and speculators who can leverage low-cost or forgivable federal loans.
In this financialized market context, demolishing lower-priced homes and replacing them with higher-priced units doesn't create affordability. Instead, it accelerates displacement of existing residents and reduces overall housing options for middle and lower-income Calgarians.
The debate continues as Calgary grapples with balancing development needs against genuine affordability concerns, with the blanket upzoning policy facing increasing scrutiny for its failure to deliver on its original promises.
