Housing shortfall, costs and affordability

[dtkvictim]

I'm confused, are you implying these are not the same thing?

Yes. Single people living with roommates is not unusual in most countries (and I have done it, too, both during and after university). It doesn't mean you are actually homeless. You may not be able to afford a complete house/apartment, or you may simply choose to spend less by sharing one.

And even if you consider all people with roommates to need their own houses/apartments, even so, building 36,000 housing units would not solve the affordability issue. Even if the housing market cools down, construction costs are simply too high for many people.

Being underhoused should absolutely be counted towards the housing shortage, not just those who have made it all the way to homelessness. It's not just people living with unwanted roommates (often strangers) to "save money", but people raising children in one bedroom apartments, people living in illegal and unsafe units, people living in houses way over capacity, etc.

Increased construction costs may be a concern, but probably not as big as it seems. If supply outgrows demand, prices will almost invariably fall. Older existing buildings will generally depreciate in value (the structure itself), only increasing modestly as construction costs increase. It's the value of land caused by a lack of supply that really drives up the cost.