This report again highlights the crucial role of increasing housing supply if the goal is to make housing affordable for everyone in Canada. It also demonstrates the importance of examining both economic and demographic variables given the recent changes that have been experienced in both”.
— Aled ab Iorwerth, Deputy Chief Economist
In our latest report, Canada’s Housing Supply Shortages, we take a closer look at the gap between supply and demand in the housing system. Our goal is to determine how much additional housing supply is needed to achieve housing affordability by 2030, beyond current trends. Meeting the demand for housing in Canada is critical and increasing supply in the rental and homeownership markets is key to achieving affordability.
This report is an update to our Supply Gaps Estimate report from June 2022.
We maintain our estimate from last year, which indicates a need for 3.5 million more units by 2030 to restore housing affordability. We also present 2 alternative scenarios for consideration: a high-population-growth scenario and a low-economic-growth scenario.