Canada needs US$729bil to solve housing affordability crisis

Quick fix: A house under construction in Ottawa, Ontario. Authorities at all levels of government are rushing to ease constraints on new supply, from changing zoning rules to offering tax breaks to apartment builders. — Reuters

TORONTO: It will cost C$1 trillion to build enough homes to ease Canada’s housing affordability crisis by the end of the decade, the country’s national housing agency says.

The scale will require massive investment from the private sector, which the Canada Housing and Mortgage Corp will push for in the coming months, Aled ab Iorwerth, its deputy chief economist, said in a blog post.