US EditionParliamentary Budget Officer says 3.2 million new homes needed to close housing gap
- Canada needs to build 3.2 million new homes in the next decade to close the housing gap, according to the Parliamentary Budget Officer.
- The PBO expects an average of 227,000 new homes to be completed each year for the next decade, but projects only 2.5 million homes will be built in total.
- A decline in new households is expected due to reduced immigration targets, which will impact housing demand.
- Increased construction and reduced demand are anticipated to help correct the low vacancy rate that has driven up home prices.
38 Articles
38 Articles
Canada not expected to meet housing target in the next decade, Parliamentary Budget Officer says
Canada needs to build 3.2 million new homes in the next decade to close the housing gap but isn't on track to do that, the Parliamentary Budget Officer said in a new analysis published on Tuesday.
Canada needs to build 3.2 million new housing units over the next decade, according to the Parliamentary Budget Officer (PBO).
Parliamentary Budget Officer says 3.2 million new homes needed to close housing gap (Canada)
The Parliamentary Budget Officer estimates Canada needs to build 3.2 million new homes in the next decade to close the housing gap but isn't currently on track to do that. The latest PBO report estimates the number of new home builds will be higher over the next three years but will gradually return...
Approximately 2.5 million housing units will be added in Canada over the next 10 years, but an additional 700,000 units would be required to return to its historical average, as noted by the Parliamentary Budget Officer in his most recent report released on Tuesday.
OTTAWA—Canada needs to build 3.2 million new housing units over the next decade to fill the housing gap, but it is not on track to do so. The Parliamentary Budget Officer (BPD) made this observation in a new analysis published on Tuesday, which estimates that the number of new residential constructions will increase over the next three years, but will gradually return to the historical averages thereafter. The BPD forecasts an average of 227,000…
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