Hub Podcasts Canada has made real progress on housing. Now comes the hardest part
Oct 3, 2025
Eric Lombardi, founder of More Neighbors Toronto, discusses Canada's recent housing successes and the looming challenges of a market correction. He highlights the risks posed by falling prices and stalled developments in major cities like Toronto and Vancouver. Tim Hudak and Alex MacDonald present innovative policy recommendations aimed at revitalizing homeownership, suggesting measures like broadening GST rebates, cutting building taxes, and restoring 30-year mortgage amortizations to make homes more accessible. A lively conversation on vital solutions for Canada's housing landscape!
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Progress Is Real But Fragile
- Policy actions and market shifts together stopped affordability from getting worse and started improvement.
- Eric Lombardi argues this combination marks real progress after years of deterioration.
Landing The Market Matters
- The hardest task is managing the correction so builders, homeowners and the economy survive.
- Lombardi warns a crude crash could destroy capacity and stall future supply for years.
Toronto's Pre-Sale Collapse
- Toronto has effectively seized up: pre-construction sales are down over 80% and launches have nearly vanished.
- Lombardi uses Toronto as an example of how demand evaporation pauses projects and piles up inventory.