The severe lack of housing options is hurting the prospects of many young Canadians.
From 2013 to 2022, Canada’s population grew by 427,439 people annually yet only 196,872 housing units were completed annually.
Insufficient supply relative to demand means fewer homes available to renters and buyers alike.
Cities with the strictest land-use regulations have the lowest rates of housing stock growth.
The province has a rental vacancy rate of 1.4 per cent.
At last count, the GTA rental vacancy rate was 1.1 per cent.
Horgan government will spend $492 million on 4,900 subsidized rental units.
Both Toronto and Vancouver require at least one space per residential unit in most of the city.
The owners of 67,000 lots currently zoned for single-family housing can now rebuild their homes as duplexes.