Canada is facing a significant challenge in the housing market, with the latest estimates showing we need between 417,000 and 469,000 new homes built each year through 2036 to regain the level of affordability we saw before the pandemic—across both ownership and rental sectors. Right now, we’re tracking at about 231,000 homes annually, which means we’re looking at a shortfall of nearly 2.4 million homes over the next decade. While slower population growth has offered some relief, high borrowing costs and increased construction expenses have made it even harder for new builds to keep up. Multi-family ownership, in particular, has been hit hard—fewer condo pre-sales have led many developers to hold off or cancel projects, which could tighten supply even further once demand picks up again. Government efforts, including financing and zoning updates, are helping to boost rental supply, but for homeownership projects, the private sector will need to see stronger momentum to bridge this gap. As a broker who navigates both residential and commercial markets in Laval and beyond, I see firsthand how these trends are shaping opportunities and challenges for buyers, sellers, and investors alike.
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