The parliamentary budget officer estimates Canada needs to build 3.2 million new homes in the next decade to close the housing gap, but isn't currently on track to do that.

The latest PBO report estimates the number of new home builds will be higher over the next three years before gradually returning to historical averages.

It projects an average of 227,000 new homes will be completed each year for the next decade, but says an additional 65,000 per year will need to be built to close the housing gap.

"[We need to] take into consideration the fact that there will be needs and there have been needs that have not been met over the last several years, what we call suppressed demand," Parliamentary Budget Officer Yves Giroux told CBC News.

In Canada's housing crisis, are modular homes a

See Full Page