Nationally, new homebuilding needs a boost of at least 50 per cent through 2024, according to a recent Desjardins Securities report.
Canada must build a record number of new homes to keep up with the pace of immigration, a new report says.
The rapid increase in new builds is also needed due to the lag between when new home construction begins and when those homes are listed for sale, the report added. The federal government can expedite the process to build on federal lands, Bartlett added. The same can be said for provincial land, but it can’t come at the expense of the environment, he said., the More Homes Built Faster Act, is the lack of clarity on where the houses will be built, if there will be affordable housing, and how much of the Greenbelt will be paved over, experts say.
“The government needs to fund and invest in startups that use 3D printing and use different building materials to accelerate the way we build,” he said. “We are building the way we did 50 years ago. There needs to be innovation.” In the 1960s and 1970s the federal government funded a large supply of rental housing and provincial governments took advantage of the funding to build more affordable and social housing, Tranjan said.
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