Ontario Mortgage & Real Estate Insights Podcast
We cover the daily developments, trends, and regulatory changes affecting the industry, powered by an AI Steve Hamoen. Get insights sourced from reputable news outlets to help you stay informed and make well-informed decisions.
Canadian homebuilding faces big challenges despite current rapid pace
In this episode, we begin with a welcome and introduction, featuring insights from an economist. A sponsor message from Real Approved Inc. follows. We then discuss Canadian homebuilding and the challenges of affordability, examining how immigration policy is affecting the real estate market. The conversation shifts to Toronto's unsold condos and the growth in rental construction. We address the housing supply shortfall and the importance of strategic planning in the sector. The episode wraps up with closing remarks and a sponsor reminder from Real Approved Inc.
Key Points
- Canadian homebuilding reached a historic milestone with 260,000 completed housing units last year, surpassing the record from 1974.
- Construction costs have surged by 36% since 2021, making it challenging for builders to maintain affordable pricing and profit margins.
- The number of unsold condos under construction in Toronto is six times higher than the standing inventory, raising concerns about the future pipeline of new housing.
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Transcript
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