Within five years, the construction of new homes in the country’s hottest markets is projected to slow to near-zero. Less construction, fewer homes, and fewer jobs – all at a time when the country needs more housing than ever.
Within five years, the construction of new homes in the country’s hottest markets is projected to slow to near-zero. Less construction, fewer homes, and fewer jobs – all at a time when the country needs more housing than ever.
That is not enough. CMHC says we need something like 5 million new homes by 2035 to restore housing affordability to pre-pandemic levels. 5k houses/year is nowhere near what we need. It’s nowhere near the 500,000 housing starts/year Carney was promising during the election.