Canada’s recent improvements in housing affordability are on shaky ground as new construction—particularly for ownership homes—continues to slow. For those of us invested in Alberta’s real estate landscape, this trend is especially concerning. Current estimates suggest that to bring affordability back to pre-pandemic norms by 2036, Canada will need between 417,000 and 469,000 new housing starts each year. Despite some progress, this means the supply gap remains largely unchanged.
Across major Canadian markets, the bulk of new builds are rentals, while construction of ownership-focused homes has weakened significantly. Even as more rentals help balance conditions, we’re not seeing enough ownership options come online. Slower population growth has modestly improved affordability, but the bigger picture reveals a worrying disconnect: construction is lagging behind demand, and that imbalance could worsen if demand picks up.
As someone who navigates Alberta’s evolving market with a legal and data-driven approach, I see protecting affordability as a matter of keeping ownership housing starts active—today, not tomorrow. If we don’t, we risk deeper supply shortfalls when the market inevitably rebounds. The path forward is clear: sustained construction of ownership homes is essential to a stable, accessible market for buyers and sellers alike.
Leave a Reply