Housing crisis may get worse, new forecasts show

Canada’s housing crisis is projected to worsen as housing starts are expected to decline from 245,367 in 2024 to 237,800 this year, and further to 227,734 next year, falling short of the 480,000 annual target needed. Despite government promises to increase supply, challenges such as high costs, interest rates, and regulatory barriers have hindered progress in addressing affordability and construction.

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