Canada needs another 3.5M housing units built by 2030: CMHC

The Canada Mortgage and Housing Corp. (CMHC) released an update Wednesday to a report it released in June 2022 on housing shortages and affordability. It projects that the country would need approximately another 3.5 million housing units by 2030 in order to meet 2004 levels of affordability. CMHC deputy chief economist Aled ab Iorwerth said on The Vassy Kapelos Show that it is a priority for all Canadians to address the housing affordability problem, but added that it will take time and effort to fix it. Housing Minister Sean Fraser also responded to the CMHC report, saying that it will be difficult to build the 3.

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