As many as 4.8 million new homes must be constructed over the next decade to return to affordability levels last seen in 2019 based on expected demand, Canada’s national housing agency says.
The latest supply gaps estimate report from the Canada Mortgage and Housing Corporation (CMHC) found the country will need between 430,000 and 480,000 new housing units each year across the ownership and rental markets until 2035.
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