Canada needs ‘all hands on deck’ to fill housing supply gap: CMHC

Canada needs ‘all hands on deck’ to fill housing supply gap: CMHC

Canada’s current pace of homebuilding will see the country face a gap of 3.5 million units by 2030, falling well short of the bar for housing affordability, according to a new report. The Canada Mortgage and Housing Corp. (CMHC) published its latest analysis on Canada’s housing stock challenges Thursday. The agency projects that Canada will add an additional 2.1 million housing units between 2021 and 2030, hitting a total stock of 19 million homes nationally. But that will be well short of enough units to make housing affordable for all Canadians, the CMHC said. It projects Canada will need well over 22 million units by that time to put affordable roofs over the heads of the growing population. Canada’s construction industry would have to more-than double its expected pace of …
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