New data from the Canada Mortgage and Housing Corporation shows Ontario once again failed to meet its monthly home starts goal in May.
A February 2022 report from the province's housing affordability task force said Ontario needs to build at least 1.5 million homes by 2031 to meet growing demand. That works out to 150,000 new units each year, or 12,500 per month.
In May 2024, Ontario added 7,062 units, a 23 per cent increase from the same time last year but still roughly 5,400 units fewer than the monthly target.