Already facing a significant inventory issue, Canada’s housing supply shortage is poised to get worse as soaring construction costs weigh on homebuilding ambitions.
The rising cost of raw materials, increased development fees and levies, and a shortage of workers will challenge efforts to grow the housing stock, and lead to worsened affordability in the long-term. The prediction is courtesy of a new report from RBC’s Robert Hogue, Assistant Chief Economist, and Rachel Battaglia, Economist.
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