Canadian here, the supply of housing depends on which part of the country you're talking about. As far as I've heard/seen the supply of housing is generally increasing with demand in most parts of the country - some of my relatives who live in a small town a couple of hours from Toronto were saying the town is getting its first block of apartments.
However, the moment you start looking at Toronto, Vancouver, and to some extent Montreal and Ottawa, the trend no longer holds. The populations of Torcouver are going up far faster than supply is able to increase, for a variety of reasons including the cost of building, regulations, NIMBYism, etc. The problem is further exacerbated by demand-side issues driving it up, such as speculation leading to housing sitting empty and illegal AirBNBs keeping units from being rented.
However, the moment you start looking at Toronto, Vancouver, and to some extent Montreal and Ottawa, the trend no longer holds. The populations of Torcouver are going up far faster than supply is able to increase, for a variety of reasons including the cost of building, regulations, NIMBYism, etc. The problem is further exacerbated by demand-side issues driving it up, such as speculation leading to housing sitting empty and illegal AirBNBs keeping units from being rented.