Hub Podcasts Falling sales, falling jobs: Why Canada must cut taxes on new homes
Oct 6, 2025
Mike Moffatt, founding director of the Missing Middle Initiative, discusses the alarming drop in new-home sales across Canada and the potential loss of 100,000 jobs in construction. He argues for cutting taxes to revitalize housing, emphasizing that current levies make new homes unaffordable. Michael Geist, an expert in Internet law, examines recent privacy probes into TikTok, highlighting the trade-off between protecting minors and increasing surveillance. His insights reveal how monitoring might infringe on user privacy while aiming for safety.
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Falling Prices Yet Persistent Unaffordability
- Home prices have fallen but remain unaffordable for many middle-class families across Canada.
- Building costs stay high, creating a gap that makes new construction economically unviable.
New Sales Signal Imminent Construction Drop
- New home sales are a real-time indicator and have collapsed significantly since 2021 in major markets like the GTA.
- CMHC warns falling sales today will cause substantially fewer starts and severe employment impacts tomorrow.
Starts Decline Risks 100,000 Jobs
- A projected decline of ~30,000 housing starts between 2024–2027 could cost roughly 100,000 jobs across trades and supply chains.
- Losing skilled construction workers would hinder any government plan to double homebuilding.