OTTAWA — Canada Mortgage and Housing Corp. says the projected housing supply gap has shrunk slightly from last year, but that Canada still needs to build about 3.5 million more houses by 2030 than what's on track to restore affordability.
The federal housing agency says in its updated outlook that the supply picture has improved somewhat in Ontario, but has worsened in other provinces like Quebec, Alberta, and British Columbia.
Ontario still makes up the bulk of the shortfall with a 1.48 million gap, but that's down from the 1.85 million projected last year.
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