Ontario is lowering projections for new home construction levels in its fall economic statement, putting the government further away from its goal of building 1.5 million homes in 10 years.

It is the third consecutive budget or fall economic statement in which projections have been revised downward, and Municipal Affairs and Housing Minister Rob Flack has recently appeared to back away from the 1.5 million homes goal.

In the spring budget, the province expected to see 71,800 homes built this year — already far off the pace needed to reach 1.5 million, but now it projects an even lower 64,300.

Projections for the next few years are also low, with 70,200 new homes expected next year, 79,600 projected in 2027 and 83,700 expected in 2028.

"Private-sector forecasters continue to highlight t

See Full Page