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We simply don’t have enough money to solve Canada’s housing crisis - The Globe and Mail

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A concrete bucket is lifted up by a crane at a condominium under construction on Broadway Ave. in Toronto on Oct 5. FRED LUM/THE GLOBE AND MAIL Greg Kalil is the founder and managing partner of Stormont Partners, a real estate-focused merchant bank based in Toronto. It is now widely understood that Canada’s housing market is critically undersupplied. A 2022 study by Canada Mortgage and Housing Corp. reported that the country will need to produce 3.5 million more housing units than are currently in the delivery pipeline by 2030, to restore housing affordability. Yet it is obvious that we will not be able to correct this situation by 2030, and probably not even by 2040. To meet CMHC’s target we would need to triple our current rate of production in a system that is already at full capacity. To solve Canada’s housing crisis, we need to address the capacity problem at all levels and all at once, and the task is just too heavy at present. Housing does not magically appear when there is dema

Open this photo in gallery: A concrete bucket is lifted up by a crane at a condominium under construction on Broadway Ave. in Toronto on Oct 5. Fred Lum/The Globe and Mail Share Save for later Please log in to bookmark this story. Log In Create Free Account Greg Kalil is the founder and managing partner of Stormont Partners, a real estate-focused merchant bank based in Toronto. It is now widely understood that Canada’s housing market is critically undersupplied. A 2022 study by Canada Mortgage and Housing Corp. reported that the country will need to produce 3.5 million more housing units than

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