PBO: Canada needs 690,000 more homes by 2035 beyond baseline build-out
The Parliamentary Budget Officer projects 2.5M net units by 2035 at current trends, but estimates Canada needs +690,000 additional units (total 3.2M) to restore vacancies to long-run norms. Household formation is expected to fall below average through 2030 after 2024’s peak, easing—but not erasing—supply pressure. Published Aug. 26. Implications for NS developers: sustained completions are required to stabilize rents in Halifax multi-res.
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