Restoring Canada's previous housing affordability levels isn't realistic: CMHC

Restoring Canada's previous housing affordability levels isn't realistic: CMHC

Canada must nearly double current annual housing starts to address the country’s deepening housing affordability crisis, according to CMHC.

CMHC Says Canada Must Double Housing Construction to Restore Affordability by 2035 - Ontario Construction News

Ontario Construction News staff writer Canada will need to build between 430,000 and 480,000 new homes annually over the next decade—about twice the current pace of construction—to return to housing affordability levels last seen in 2019, according to new estimates released by the Canada Mortgage and Housing Corporation (CMHC). The updated report from CMHC […] The post CMHC Says Canada Must Double Housing Construction to Restore Affordability by…

Canada Housing Agency Abandons 2004 Affordability Target

Canada’s national housing agency is abandoning its goal to restore housing affordability to 2004 levels, calling the target “no longer realistic” after pandemic-driven changes fundamentally altered the country’s housing market. The Canada Mortgage and Housing Corporation announced it will instead aim to return affordability to 2019 levels, acknowledging that the remote work revolution and housing price surge during COVID-19 created permanent str…