Kavcic puts the current plan into perspective to show the type of scale required. “For additional context, at 2.5 people per household, we’d need more than 170k new units every three months at this rate of population growth, even before accounting for domestic household formation,” he explains.

The industry is currently pushed to the max trying to churn out 220k homes per year. That’s a significantly higher number than previous years, but still roughly a quarter of the amount that would be needed to accommodate the supply-side plan.