Canada needs to build 1.3M additional homes by 2030 to close housing gap, says PBO

The parliamentary budget officer says Canada would need to build 1.3 million additional homes by 2030 to eliminate the country's housing gap.

The newly released report looks at how many more homes would need to be built restore Canada's vacancy rate to the historical average. 

The report by Yves Giroux's office also accounts for the number of additional households that would form if sufficient housing were available. 

Based on those benchmarks, the PBO estimates that Canada would need to build 181,000 more homes a year than it currently does.