Housing starts will fall below 2030 supply targets in Ont., Que. and B.C.: CMHC
BNN Bloomberg
Canada Mortgage and Housing says even under best-case scenarios, housing starts will fall well below the affordable housing supply targets it has set for Ontario, B.C. and Quebec to reach by 2030.
In those three provinces and Alberta there will only be enough labour capacity over the next eight years to increase the number of housing starts by between 30 and 50 per cent under best-case scenarios, the federal housing agency said in a new report released Thursday.
"We didn't think the challenges were this acute. We thought that there was more capacity in order to achieve these goals," said Dana Senagama, a senior specialist in market insights at CMHC and one of the report's authors.
"These provinces are going to have problems, but how much they will have... is what was more surprising."
