In outlining the Canadian housing policy context for the remainder of the 1990s, this article highlights the largely exogenous influences that reflect the nature of the Canadian federation and the broader policy agenda of the federal government--notably deficit reduction and social policy reform. This policy environment is affected by macro factors including demographics, immigration, employment, the restructuring global economy, income trends, and increasing levels of dependence on government transfers. The article reviews recent trends in construction, social housing volumes, and the availability of affordable housing within the private stock. There appears to be a sufficient, albeit eroding, stock of affordable private housing that may be an important resource in a time of program spending reductions. To the extent that resources are largely in private and community hands, housing policy for the 1990s must adapt, with senior levels of government accepting a new role that is facilitative, enabling, and nurturing.