The federal agency had earlier predicted a drop of 5% by the middle of 2023. Read on
Bowers said “correcting the supply-demand imbalance” by building more homes including rental properties at all price points is the best way to remedy Canada housing affordability issues.Article content
The following month, the housing authority said projected construction of new homes by 2030 would not be enough to solve Canada’s supply and affordability issues, concluding that an additional 3.5 million units would be required on top of those already in the works.The CMHC report in June projected that housing stock would increase by 2.3 million units by 2030, reaching close to 19 million housing units, based on rates of new construction at the time.
“There’s no doubt that doubling our housing starts is very difficult, but that doesn’t make it any less desirable.”
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