Sentiments have soured significantly across Canada’s housing markets, with sales and prices edging lower as high interest rates keep buyers on the sidelines. But despite the slowdown, economists warn an improvement in affordability is not on the horizon. Home sales have been on the decline since the Bank of Canada

The Canada Mortgage and Housing Corp. (CMHC) says 3.5 million more homes need to be built by 2030 to reach affordability. The agency released a report Thursday explaining the need for a different approach to the housing supply shortage at a time of rising demand and affordability concerns. “Increasing supply