A senior economist for Canada’s housing agency says that more private sector involvement is needed to solve the country’s housing crisis.
Aled ab Iorwerth, deputy chief economist for the Canada Mortgage and Housing Corporation (CMHC), made the comments in an Aug. 13 report, Accelerating Rental Supply: Encouraging Development While Safeguarding Tenants.
Ab Iorwerth said that private sector investment in rental construction was “critical,” adding that governments do not have the resources to meet the demand.
“We need large-scale private and institutional investors to step in if we are not to see further shortfalls in construction over the coming years,” he wrote in the report….