ew proposals to boost supply. Builders and analysts appealed for a cut in taxes and mandatory charges on new construction.
“We need more housing supply in Canada,” Hussen told the Commons public accounts committee. “We have the fastest growing population in the G7. We have a very low housing supply of all types.”
CMHC in a report last June 23 estimated building trends leave Canada short about 3,500,000 new homes by 2030, the equivalent of more than 440,000 homes annually. New construction currently averages about 200,000 new homes a year.
“On current trends the housing stock increases from about 16 million in 2019 to over 18.6 million by 2030 for Canada,” said the report Canada’s Housing Supply Shortages: Estimating What Is Needed To Solve Canada’s Housing Affordability Crisis By 2030. “We project that over 22 million units will be required to achieve affordability.”