Why the condo slump matters for the housing crisis

In this discussion, Rachelle Younglai, a real estate reporter for The Globe and Mail, unpacks Toronto's condo market, which is facing a 27-year low in sales. She highlights the alarming rise in developer insolvencies and how pre-construction sales are becoming increasingly scarce, potentially driving housing affordability to new lows. Rachelle explores the financial mechanics behind condo developments and the overwhelming challenges posed by rising costs, delays, and an oversupply of properties, raising crucial questions about the future of Canadian housing.