Build Canada Homes lags behind housing targets

More than a year after launching, Build Canada Homes committed to supporting the construction of 19,000 new units across the country. So far about 2,000 are currently being built. I think we can always go faster. I like to say I work for an industry that measures patience in terms of seconds. Build Canada Homes told CBC News in an email that this is just the beginning and that Canada's housing sector is under unprecedented pressure with demand for affordable homes far exceeding current supply. We've had probably 40 years of not investing enough in affordable housing at a federal level. The leadership was not there. We're changing that now. In the late 80s and early 90s, the Canadian government, under both Conservatives and Liberals, tried to rein in spending and effectively stopped funding and building social housing. This expert worked on monetary policy at the time at the Bank of Canada. It's hard to fill that gap in a hurry. So we're on the right track, but it's going to be more than anything a question of time and effort and financing to get there. Build Canada Homes focuses on non-market housing where rents are typically tied to income rather than market rates. But the agency is also partnering with developers to build affordable homes for the middle class. Even when adding the market-priced segment, housing starts over the past few years have been falling short, hovering around 250,000 units annually. The Canada Mortgage and Housing Corporation says roughly 417,000 to 469,000 units need to be built every year for the next decade. We still need to keep doubling the pace of current housing starts if we are to restore 2019 affordability across the country. CMHC's chief economist says streamlining regulation and building more modular factory-built housing could help to bridge that lingering supply gap. Philippe de Montigny, CBC News, Toronto.