According to the projections, Canada would require 3.2 million additional homes over the next decade to close the gap between supply and demand. That leaves a deficit of about 690,000 homes even if current building targets are met.
To fully close the housing gap, the country would need to complete an average of 290,000 units annually between 2025 and 2035. The PBO noted that this would mean surpassing the record of 276,000 units completed in 2024 every year for the next 11 years.
The findings highlight the scale of the challenge facing policymakers, builders, and communities as housing affordability continues to dominate public concern. For many Canadians, the numbers represent more than statistics—they reflect the urgent struggle of families, young people, and newcomers searching for a place to call home.
