PBO: 3.2M net new units needed by 2035 to close housing gap
Annual construction must exceed 2024's record of 276,000 units for 11 years
Household formation peaked at 482,000 in 2024, projected to drop below 176,000 avg. until 2030
Meeting ambitious targets could mean 5.3 million units, risking high vacancy and empty homes.
More homes would ease shelter costs, but not solve all affordability issues