2023-09-18 02:10:26
While Canada aims to build 3.5 million new homes by 2030, residential construction sites are slowing down across the country.
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In Quebec, 860,000 more housing units would have to be built per year to meet demand, estimates the Canada Mortgage and Housing Corporation (CMHC).
“It would involve rhythms that we have not experienced in the past,” explained CMHC deputy chief economist Keven Hughes to TVA Nouvelles.
There are also numerous challenges in the real estate sector: financing projects is more difficult due to inflation, construction costs have exploded and the labor shortage weighs heavily on construction companies.
According to Mr Hughes, there needs to be a concerted response from all those involved in housing construction.
He adds that a good dose of creativity and innovation would also be necessary to hope to achieve the ambitious objectives of governments.
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