Millions of new units need to be built by 2030 for affordable housing to be a reality, the CMHC warns. “We need the rate of housing starts to more than double,” says a CMHC economist. All levels of government and the private sector must help, he says.
Homes under construction in the Toronto suburb of Markham in January 2020.
House prices have risen so high that millions of new units need to be built in Ontario and across the country by 2030 for affordable housing to once again be a reality. “To put it another way, we need the rate of housing starts to more than double,” said Aled ab Iorwerth, deputy chief economist at the Canada Mortgage and Housing Corporation , in a call with reporters.on Thursday morning looking at the national housing-supply crunch that also specifically dug into Ontario, B.C., Quebec and Alberta markets. It’s going to take a full-court press from all orders of government, and the private sector, to get anywhere, ab Iorwerth said.
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