CMHC revises down home price forecast over next two years to adjust for interest rate spike

CMHC revises down home price forecast over next two years to adjust for interest rate spike

Although home prices have plummeted since the central bank started raising interest rates in March, CMHC economist chief Bob Dugan said he was ‘leery’ of forecasting a steeper price decline when the housing shortage is so severe.CARLOS OSORIO/Reuters Canada’s housing agency has cut its national home price forecast for this year and next, saying that … Read more

Canada needs 5.8 million new homes by 2030 to bring prices down to affordable levels, CMHC says

Canada needs 5.8 million new homes by 2030 to bring prices down to affordable levels, CMHC says

New homes are built in a housing construction development in the west-end of Ottawa on May 6, 2021.Sean Kilpatrick/The Canadian Press Canada needs an additional 5.8 million homes by the end of the decade to help lower average home costs and ensure households are not spending more than 40 per cent of their disposable income … Read more

Canada needs ‘all hands on deck’ to fill housing supply gap: CMHC

Canada needs ‘all hands on deck’ to fill housing supply gap: CMHC

Canada’s current pace of homebuilding will see the country facing a gap of 3.5 million units by 2030, falling well short of the bar for housing affordability, according to a new report. The Canada Mortgage and Housing Corp. (CMHC) published its latest analysis on Canada’s housing stock challenges Thursday. The agency projects that Canada will … Read more