Canada needs 3.5 million additional housing units by 2030, says CMHC
September 19, 2023 | 1:57 pm CDT
Canadian 2030 housing forecast

OTTAWA, Ontario – The Canadian Mortgage and Housing Corporation (CMHC) issued a revised report projecting the need for constructing an additional 3.5 million by 2030 to “reach an adequate level of affordability.”

“Last year, we estimated that an additional 3.5 million housing units beyond what we projected would be built anyway under our ‘business-as-usual’ scenario would be needed by 2030 to reach this affordability target,” the 2023 report states. “This year, in our baseline economic and demographic scenario, we’re still projecting 3.5 million additional housing units will be needed. However, the size of the supply gap has changed across provinces. In some, like Ontario, lower projected growth in income per household will lower demand for housing. In others, like Quebec and Alberta, we project growth in incomes will rise proportionately more. As a result, more housing will be needed.”

Read the full report.

CMHC 2030 housing projections

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Rich Christianson is the owner of Richson Media LLC, a Chicago-based communications firm focused on the industrial woodworking sector. Rich is the former long-time editorial director and associate publisher of Woodworking Network. During his nearly 35-year career, Rich has toured more than 250 woodworking operations throughout North America, Europe and Asia and has written extensively on woodworking technology, design and supply trends. He has also directed and promoted dozens of woodworking trade shows, conferences and seminars including the Cabinets & Closets Conference & Expo and the Woodworking Machinery & Supply Conference & Expo, Canada’s largest woodworking show.