MNI BRIEF:Canada Needs 11Y Of Record Starts To End Housing Gap

Canada will need eleven consecutive years of record housing starts to meet an official goal of restoring an affordable supply of housing, the federal budget officer said Tuesday.

The pace of 290,000 starts needed over that time is higher than last year's record of 276,000 units according to the report. The supply gap widened as record immigration created a record 482,000 new households last year, now set to slow to less than 176,000 after the government curbed migration from abroad. (See: MNI: Tracking CPI-Ex Mortgage Interest Would Aid BOC- CD Howe)