Canada does not have a housing supply problem. That is the big lie told by governments to make themselves look good. It's mostly a cost of money problem. When the cost of money was near zero for so long, especially during the pandemic, people loaded up on debt, increasing the demand for houses, driving prices to insane levels. Now that the cost of money has increased to the (historically low) level of 5%, the demand for housing has decreased, listings are flooding the market, and prices are falling.