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VIDEO: Peter Norman at the CanaData East conference

0 91 Economic

by DCN News Services

Peter Norman, the chief economist and general manager of the Altus Group, spoke at the CanaData Construction Industry Forecast Conference on September 22 in Toronto.

Norman said that demand for high-density housing will continue even as millennials mary and have children, adding that while a shortage of single family homes is sometimes portrayed as an extreme, in reality the mix between single-family and apartments is a matter of degree.

He said the Toronto market is currently growing such that 40,000 to 50,000 new housing units will be required every year, and even with a slowdown, he expects demand for apartments to continue in the GTA.

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