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Dear John,
The annual number of new homes being built in Canada in recent years is virtually the same as it was in the 1970s, despite annual population growth now being three times higher.
Between 2021 and 2024, Canada’s population grew by an average of 859,473 people per year, while only 254,670 new housing units were started annually.
From 1972 to 1979, a similar number of new housing units were built — 239,458 — despite the population only growing by 279,975 people a year.
Unless there is a substantial acceleration in homebuilding, a slowdown in population growth, or both, Canada’s housing affordability crisis is unlikely to improve.
Check out the full study here, and be sure to share this one with your friends and colleagues.
Sincerely,
Niels Veldhuis
President
The Fraser Institute
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