By Steven McCoy
June 04, 2019 – It’s estimated that in Canada there is a housing shortage of approximately 300,000 units according to a recent study completed by CIBC’s chief deputy economist, Benjamin Tal. This study challenges CMHC’s data which shows a perfect balance between the number of new homes built and the number of new households formed in the country. Developers rely on CMHC’s data and therefore aren’t building the needed housing because they simply don’t know the demand exists. Tal says the discrepancy in CMHC’s numbers stem from the fact that Canada categorizes students who live away from home during the school year but return to their parents’ home in the summer as simply living with parents in their statistics. Read entire article here.
