Business View Magazine l October 2022

20 BUSINESS VIEW MAGAZINE VOLUME 9, ISSUE 10 many challenges builders are facing right now.” The inflationary pressures are even more compounded when looking at rising construction costs. According to the most recent data published by Statistics Canada, the cost of construction for new residential buildings in Saskatoon represents three times the average inflation rate in Saskatchewan, and these number continues to steadily increase. “The fear is that, if not addressed, builders will be forced to cut back on production as a result of these growing pressures, which will only further exacerbate the issue and put additional pressure on already concerning inventory levels,” cautions Burgess. Targets such as the provincial and federal government’s 2030 growth goals, at the current pace of construction, will likely result in a significant housing shortage, which has been a focus of the newly formed Saskatchewan Housing Continuum Network (SHCN), to which SRHBA is a founding partner. The SHCN is a network of associations who are committed to working collaboratively to promote a healthy housing continuum as the cornerstone of Saskatchewan’s competitive edge. “Our first joint report looked at current housing inventory levels across the continuum and within the framework of what the shortfall would be if current inventory levels are AT A GLANCE SASKATOON & REGION HOME BUILDERS’ ASSOCIATION WHAT: Voice of the residential construction industry in Saskatoon and area since 1955 WHERE: Based in Saskatoon, Saskatchewan WEBSITE: https://saskatoonhomebuilders.com/