Why the condo slump matters for the housing crisis
19:26 Share

A recent report said that condo sales in Toronto are at a 27-year low). Insolvencies amongst condo developers are rising and set to be 57-per-cent higher than 2023 and 13-per-cent higher than 2009). This means there are a glut of units for sale. And yet, prices aren’t really going down.

So what’s happening here? Rachelle Younglai), a real estate reporter for The Globe and Mail, explains why the pre-construction market is in ‘recessionary territory)’ and how all of this could make Canada’s housing affordability crisis worse over the next few years.

*Questions? Comments? Ideas? E-mail us at *[email protected])