Ontario Housing Collapse, Skilled Trades Shortage, and FSRA Actions
In this episode, we begin with a welcome and overview, setting the context for our discussion. A sponsor message from Real Approved Inc. follows. We explore the decline in Canadian housing starts and the collapse of Ontario's market, contrasting it with Alberta's situation. The analysis highlights the skilled trade worker shortage and its impact on construction. We delve into housing affordability issues in Hamilton and Burlington, providing a local perspective. The episode also covers the FSRA's decision to revoke Mortgage Smart Inc.'s license and TD Bank's introduction of a real-time pricing calculator. We conclude with closing remarks and a sponsor acknowledgment, offering listeners a comprehensive view of current market dynamics.
Key Points
- Ontario has experienced a significant decline in housing starts, dropping to levels not seen since the 2009 Global Financial Crisis, highlighting tough market conditions and reduced investor activity.
- The shortage of skilled trade workers is a critical issue impacting the feasibility of political parties' ambitious housing targets, with industry experts emphasizing the need for practical solutions to address this bottleneck.
- The Financial Services Regulatory Authority has revoked the mortgage brokerage license of Mortgage Smart Inc. and imposed penalties on individuals connected to the firm, underscoring the importance of compliance and consumer protection in the mortgage industry.
Chapters
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Transcript
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