Challenges in the Toronto Housing Market

This chapter explores the significant decline in new home construction sales in Toronto, reaching a 27-year low amidst unrealistic government housing targets. The discussion highlights the varied performance across provinces, with Ontario struggling while Alberta and Montreal thrive, and emphasizes the financial challenges faced by condo owners due to negative equity. Additionally, the chapter addresses recent policy changes aimed at supporting the pre-construction real estate market, raising questions about the broader implications for lenders and developers.