Canada’s housing challenge is front and centre: new estimates show we need between 417,000 and 469,000 new homes built every year through 2036 just to bring affordability back to where it was before the pandemic—for both owners and renters. But with the country currently tracking closer to 231,000 completions annually, we’re on course to be short nearly 2.4 million homes over the coming decade. What’s holding us back? High borrowing costs, rising construction expenses, and tougher pre-sale financing are slowing things down, especially in the multi-family sector—think condos, where weaker pre-construction sales have forced many developers to pause or cancel projects. That means even tighter supply when demand inevitably rebounds. Government incentives and zoning reforms are helping boost rental supply, but private-sector ownership projects still need stronger market momentum to close Canada’s gap. As someone who guides clients through both the buying and financing sides of real estate, I see every day how these market forces shape your options and strategies. Whether you’re a first-time buyer, investor, or looking to move up or downsize, understanding this broader landscape is key to making informed, confident decisions in our evolving market.
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