When it comes to new construction, it’s all about risk and reward. Prices of homes are correcting, cost of lending is increasing and overall supply chain problems are affecting new construction. Builders are not projected to make enough new homes to satisfy demand by 2030.
As quoted in the article from the financial post
‘Drastic transformation’ of housing sector is called for.
The projected construction of new homes by 2030 won’t be enough to solve Canada’s supply and affordability issues, the Canada Mortgage and Housing Corp. (CMHC) said in a report
“There must be a drastic transformation of the housing sector, including government policies and processes, and an ‘all-hands-on-deck’ approach to increasing the supply of housing to meet demand.”
Follow the links to read the full article Canada needs 3.5 million more homes than projected to restore affordability, says CMHC from the Financial Post written by Barbara Shecter