Canada Needs 480,000 Annual Housing Units by 2035 to Restore Affordability
Key Points
- Half of Canadian households spend their entire paycheck on h...
Half of Canadian households now blow their entire paycheck on housing costs, and apparently the solution is to just build twice as many homes. Simple, right? The Canada Mortgage & Housing Corp dropped some sobering math this week: the country needs to crank out 480,000 housing units annually by 2035 to make homes affordable again. That's double the current construction pace, which sounds about as realistic as your New Year's resolution to start exercising.
The Great Housing Multiplication Project
The CMHC's ambitious plan reads like a construction fever dream. To put this in perspective,...
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