As someone who has helped clients buy and sell homes in Abbotsford, Surrey, Vancouver, and beyond, I’m seeing firsthand how Canada’s recent affordability improvements feel increasingly uncertain. The numbers say it all: to get back to pre-pandemic affordability by 2036, we’ll need 417,000 to 469,000 new homes started each year. Yet, most new builds these days are rentals, with ownership housing construction slowing down significantly. While a dip in population growth has temporarily made things seem more affordable, the pace of new construction has actually dropped even faster than demand. That means when the market heats up again, we could be left with an even bigger housing shortage—especially for those hoping to own. For lasting affordability, it’s vital to keep ownership-focused building moving forward, so future buyers aren’t facing even steeper hurdles.
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