Condos in Toronto region headed for a crunch as fewer start construction
As new condominium sales in the Toronto region fall to levels not seen since the deep economic recessions of the early 1990s and construction starts fall off a cliff, developers are warning that – if something doesn’t change – housing shortages are only going to intensify in the coming years.
New research from real estate analysis company Urbanation Inc. suggests that after a few years of record-high deliveries of new condo housing units, the annual arrival of newly built units could be cut in half by 2027 and slow to 20-year-lows by 2028.
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