Canada’s national housing agency has warned that millions of homes must be built within less than a decade to balance the housing market, but even it seems doubtful that its own target is achievable.
The current pace of housing starts is not just lagging. It’s headed in the wrong direction.
Last year, the Canada Mortgage and Housing Corporation (CMHC) said 5.8 million homes would need to be built by 2030 to restore housing affordability for Canadians. The current pace of building puts the country on track to construct just 2.3 millions homes by then.
And the CMHC said on Wednesday that the annual pace
