Canada's Condo Market Challenges

This chapter examines the current state of the condo market in Canada, particularly focusing on pre-construction and resale condos and their impact on housing affordability. It highlights the alarming decline in pre-construction sales and the rising insolvencies among developers, linking these trends to economic pressures such as increased costs and interest rates. The discussion also sheds light on the financial mechanics of condo developments and the significant challenges faced by both new and established developers in today's economic climate.