Why Ontario’s 1.5M new homes target looks increasingly out of reach [Video]

The new Ontario budget foresees a slow pace for housing construction over the next three years, making it increasingly unlikely that Premier Doug Ford’s government will achieve its target of 1.5 million new homes by 2031.

The budget forecasts 71,800 housing starts in 2025, followed by 74,800 next year and 82,500 in 2027.

There have been 260,000 actual housing starts in the three years since the target was set. So if you add in the projections for 2025 and 2026, the province would only be about one-quarter of the way toward its goal at the end of next year, the halfway point of the target timeline.

To put it another way: construction in the final five …