London, Ontario has approved a record 10,398 new housing units this year, nearly double last year's total. However, the actual construction has not kept pace with the city's growing needs, with a goal of 47,000 homes by 2031 still far off. Factors such as high interest rates and rising material costs are hindering new developments. Despite a 228% increase in building permits, construction remains slow. The city's population growth is outpacing housing starts, raising concerns that even meeting the target may not suffice.
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