CMHC Housing Market Insight

[Anthony Therrien-Bernard]

This report should interest a lot of you: CMHC Housing Market Insight

Key Findings:

-Based on a business-as-usual scenario, there is insufficient labour capacity to address significant housing supply gaps that will exist mainly in Ontario and British Columbia (BC).

-In the best-case scenario, there will only be enough labour capacity to increase the number of starts in all 4 major provinces (Ontario, Québec, BC and Alberta) by 30% to 50% from CMHC’s baseline starts forecasts to 2030.

-Ontario, Québec & BC will have to double the number of starts that they can produce under best-case scenarios to reach our 2030 affordability supply target.

-Labour capacity problems are most acute in Ontario, the province with the largest population and the highest price pressures.-The pandemic showed some evidence that the industry can manage greater construction volumes with fewer workers. However, this may lead to construction backlogs, which will create delays and postpone supplying new units to the market.