Canada’s Housing Crisis Will Persist on Tradespeople Shortage, CBRE Says

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(Bloomberg) -- Canada doesnt have enough skilled tradespeople to build its way out of its current housing shortage, threatening long-term damage to the countrys social fabric, according to a top executive at one of the worlds biggest real estate firms..

Housing is becoming the central issue ahead of Canadas next general election, currently expected in 2025, with a lack of dwellings and rapid population growth driving up prices..

The country needs an additional 3.5 million homes, which would involve more than doubling its pace of construction, according to a 2022 study from Canadas national housing agency..

The inconvenient truth is that we are not going to hit those targets we will likely not get anywhere close to those targets," Paul Morassutti, CBRE Group Inc.s chairman in Canada, said at the Vancouver Real Estate Forum on Wednesday..

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