Canada's Housing Supply to Reach 'Crisis Point' Without Intervention

Things are looking bleak on Canada’s housing supply front. realestate realestatenews cdnpoli

, Winnipeg, Hamilton-Burlington, the Greater Toronto Area , Ottawa, Montreal , and Halifax-Dartmouth — and found inventory levels have fallen short of the 10-year average in seven of those markets in 2022.Greater Vancouver

In analyzing the 10-year July average in the decade spanning 2003 and 2012, several markets experienced more active listings than in the most recent decade . These included the GTA , Hamilton-Burlington and Greater Vancouver . — something that’s become glaringly apparent as of late — it’s expected to intensify the inventory shortage, especially in places like Vancouver and Toronto.

“The truth of the matter is that we probably need more than the CMHC estimate to create the desired level of affordability,” says Alexander. “During this window of softer demand, building efforts should be ramped up, not down. The offshoot effect is straining rental markets and contributing to ever-rising levels of homelessness throughout the country.”

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