Canada Needs Twice the Projected Homes

The national housing agency projected Canada needs 417K-469K new homes yearly through 2036 to restore pre-pandemic affordability, far above current construction expectations.
Canada still faces a long-term housing supply gap of 187K-238K homes per year over the next decade, based on current projections nationally.
Construction expected to slow faster than demand, leaving Canada short of needed homes and making the current downturn a key risk to affordability goals.
The scale of the shortage means construction would need to rise dramatically from current projections, with much of today's building tied to projects already underway.
Nationally, Canada needs roughly twice as much housing construction as currently projected to improve affordability over the next decade under the current outlook.