shockedcanadian
Diamond Member
- Aug 6, 2012
- 43,702
- 42,742
- 3,605
The reason Trump can be so bold is that he knows the corruption in Canada from the RCMP on down has lead to the collapse of Canada, especially Ontario.
Some of you bow to your northern masters at your own peril.
www.thestar.com
Toronto-area new home sales just tanked to their worst year on record.
The situation is ”absolutely dire,” said the Building Industry and Land Development Association (BILD) in a Thursday report, noting the consequences are rippling through Ontario’s economy, which relies heavily on homebuilding for employment, future housing supply, and economic growth.
“GTA new home sales in December 2025 reached an all-time low, bringing a fitting close to 2025. Never in the 45 years that new home sales data have been collected for the GTA have we seen just 5,300 sales for an entire year,” said Edward Jegg, research manager at Altus Group, BILD’s source for new home market data.
“Meanwhile, 2026 is likely to see geopolitical concerns linger, prices remain elevated and the Bank of Canada has indicated the cycle of interest rate cuts has ended — thus the main drivers of buyer hesitancy are expected to drag on well into the year.”
The new-build sector has reached the bottom in terms of sales, but it’s unclear for how long they will remain at these historic lows, experts say.
The longer the market remains depressed the worse the outcome for the economy as job losses mount, with up to 100,000 jobs in Ontario at risk, BILD says. With consumer confidence hitting rock bottom due to economic uncertainty from the U.S., it’s unlikely that the market will emerge from its slump any time soon, leading to hardly any new construction by the end of the decade.
While BILD and other industry leaders call for urgent action to bring down the cost to build and boost sales, a top economist is arguing the downturn is a necessary and inevitable correction from the pandemic sales frenzy that pushed prices and stretched affordability to its limits.
“It was never going to be painless getting affordability back to something close to normal,” said Douglas Porter, chief economist and managing director economics at BMO.
Some of you bow to your northern masters at your own peril.
Toronto real estate: 100,000 jobs at risk as new home sales drop to lowest level in 45 years
BILD warns the situation is ‘absolutely dire,’ with little supply coming online by the end of the decade.
www.thestar.com
Toronto-area new home sales just tanked to their worst year on record.
The situation is ”absolutely dire,” said the Building Industry and Land Development Association (BILD) in a Thursday report, noting the consequences are rippling through Ontario’s economy, which relies heavily on homebuilding for employment, future housing supply, and economic growth.
“GTA new home sales in December 2025 reached an all-time low, bringing a fitting close to 2025. Never in the 45 years that new home sales data have been collected for the GTA have we seen just 5,300 sales for an entire year,” said Edward Jegg, research manager at Altus Group, BILD’s source for new home market data.
“Meanwhile, 2026 is likely to see geopolitical concerns linger, prices remain elevated and the Bank of Canada has indicated the cycle of interest rate cuts has ended — thus the main drivers of buyer hesitancy are expected to drag on well into the year.”
The new-build sector has reached the bottom in terms of sales, but it’s unclear for how long they will remain at these historic lows, experts say.
The longer the market remains depressed the worse the outcome for the economy as job losses mount, with up to 100,000 jobs in Ontario at risk, BILD says. With consumer confidence hitting rock bottom due to economic uncertainty from the U.S., it’s unlikely that the market will emerge from its slump any time soon, leading to hardly any new construction by the end of the decade.
While BILD and other industry leaders call for urgent action to bring down the cost to build and boost sales, a top economist is arguing the downturn is a necessary and inevitable correction from the pandemic sales frenzy that pushed prices and stretched affordability to its limits.
“It was never going to be painless getting affordability back to something close to normal,” said Douglas Porter, chief economist and managing director economics at BMO.
