from Friday, BMO economists Douglas Porter and Robert Kavcic break down CMHC’s new estimate, noting that it translates to around 500,000 additional units per year.
And then there’s the unprecedented economic status quo. For builders and developers, financing costs have surged in recent years. Even with the “That period followed a decade-long bear market in housing, particularly in Ontario, where nominal home prices took more than a decade to recover declines. The 1990s recession saw double-digit unemployment in the province, a large overhang of housing inventories, and many industry participants go out of business,” says the report.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: