Parliamentary Budget Officer Estimates 3.2M New Homes Needed by 2035 to Bridge Housing Shortfall

Parliamentary Budget Officer Estimates 3.2M New Homes Needed by 2035 to Bridge Housing Shortfall

Canada needs to build 3.2 million new homes in the next 10 years to address the country’s housing shortfall but is not currently on course to achieve this, despite a deceleration in immigration rates, new analysis by the country’s budget watchdog suggests. A newly released report from the Office of the Parliamentary Budget Officer (PBO) is projecting the number of new home builds will rise in the next three years, but will gradually align with h…

Parliamentary Budget Officer Says 3.2 Million New Homes Needed To Close Housing Gap

Canada Faces 3.2 Million Home Shortage: PBO Report Signals Challenges for Mortgage Market OTTAWA, August 26, 2025 – A recent report from the Parliamentary Budget Officer (PBO) has highlighted a daunting challenge for Canada’s housing and mortgage markets, estimating that the country needs to build 3.2 million new homes over the next decade to close ... Read more The post Parliamentary Budget Officer says 3.2 million new homes needed to close hou…

Parliamentary Budget Office warns Canada’s housing supply will fall short of demand by 2035

CADCR Construction News staff writer The Parliamentary Budget Office says it expects 2.5 million homes will be added to Canada’s housing stock by 2035, far short of the 3.2 […]