A new report by the Parliamentary Budget Officer (PBO) says Prime Minister Mark Carney ‘s new housing agency is on track to build 26,000 homes over the next five years.

That comes after Carney said during the federal election campaign that his government would double the pace of housing construction to 500,000 a year, but without specifying in that vow whether it would be the promised new federal agency that would do so.

The impact of Build Canada Homes, a new federal agency created in September, on easing Canada’s housing crisis will likely be “modest,” the PBO report said.

The PBO report says the agency is currently on track to increase housing supply by 2.1 per cent over the next five years.

“We anticipate that the contribution of Build Canada Homes will likely be modest and

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