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  3. ‘A downturn that is really starting to wreak havoc:’ New condo sales in GTHA continue decline as developers cancel more projects

‘A downturn that is really starting to wreak havoc:’ New condo sales in GTHA continue decline as developers cancel more projects

Scheduled Pinned Locked Moved Canada
canada
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  • R This user is from outside of this forum
    R This user is from outside of this forum
    randalthor@lemmy.ca
    wrote on last edited by
    #1
    This post did not contain any content.

    https://www.cp24.com/news/money/2025/07/16/a-downturn-that-is-really-starting-to-wreck-havoc-new-condo-sales-in-gtha-continue-decline-as-developers-cancel-more-projects/

    lemmyoutofhere@lemmy.caL W C A D 5 Replies Last reply
    21
    • R randalthor@lemmy.ca
      This post did not contain any content.

      https://www.cp24.com/news/money/2025/07/16/a-downturn-that-is-really-starting-to-wreck-havoc-new-condo-sales-in-gtha-continue-decline-as-developers-cancel-more-projects/

      lemmyoutofhere@lemmy.caL This user is from outside of this forum
      lemmyoutofhere@lemmy.caL This user is from outside of this forum
      lemmyoutofhere@lemmy.ca
      wrote on last edited by
      #2

      Maybe they should build condos people actually want to live in, instead of shoebox “investment” properties.

      Avid AmoebaA 1 Reply Last reply
      12
      • R randalthor@lemmy.ca
        This post did not contain any content.

        https://www.cp24.com/news/money/2025/07/16/a-downturn-that-is-really-starting-to-wreck-havoc-new-condo-sales-in-gtha-continue-decline-as-developers-cancel-more-projects/

        W This user is from outside of this forum
        W This user is from outside of this forum
        wise_pancake@lemmy.ca
        wrote on last edited by
        #3

        Make the condos the size they were 30 years ago so families can live there healthily and see what happens.

        Avid AmoebaA 1 Reply Last reply
        5
        • R randalthor@lemmy.ca
          This post did not contain any content.

          https://www.cp24.com/news/money/2025/07/16/a-downturn-that-is-really-starting-to-wreck-havoc-new-condo-sales-in-gtha-continue-decline-as-developers-cancel-more-projects/

          C This user is from outside of this forum
          C This user is from outside of this forum
          cornshark@lemmy.world
          wrote on last edited by
          #4

          Will this finally bring prices down in the Greater Torhonto Area?

          1 Reply Last reply
          3
          • W wise_pancake@lemmy.ca

            Make the condos the size they were 30 years ago so families can live there healthily and see what happens.

            Avid AmoebaA This user is from outside of this forum
            Avid AmoebaA This user is from outside of this forum
            Avid Amoeba
            wrote on last edited by
            #5

            And use actual walls instead of glass facades with kilometers of aging gaskets in the seams.

            I can’t afford a house. I need a decent sized 3-bedroom that I can stay for a very long time. This basically means I can’t use almost anything built after the early 90s. And anything glass-and-gasket means significant jumps in maintenance over the long run.

            1 Reply Last reply
            6
            • lemmyoutofhere@lemmy.caL lemmyoutofhere@lemmy.ca

              Maybe they should build condos people actually want to live in, instead of shoebox “investment” properties.

              Avid AmoebaA This user is from outside of this forum
              Avid AmoebaA This user is from outside of this forum
              Avid Amoeba
              wrote on last edited by
              #6

              Yeah, this is well described by considering the target market is investors and investors have stopped investing due to various factors.

              1 Reply Last reply
              2
              • R randalthor@lemmy.ca
                This post did not contain any content.

                https://www.cp24.com/news/money/2025/07/16/a-downturn-that-is-really-starting-to-wreck-havoc-new-condo-sales-in-gtha-continue-decline-as-developers-cancel-more-projects/

                A This user is from outside of this forum
                A This user is from outside of this forum
                alexlost@lemmy.world
                wrote on last edited by
                #7

                So it wasn’t a supply issue after all? Weird. It ended up being about selling them as a commodity for investment, just like everyone’s been saying?! Who’d have thunk it.

                1 Reply Last reply
                2
                • R randalthor@lemmy.ca
                  This post did not contain any content.

                  https://www.cp24.com/news/money/2025/07/16/a-downturn-that-is-really-starting-to-wreck-havoc-new-condo-sales-in-gtha-continue-decline-as-developers-cancel-more-projects/

                  D This user is from outside of this forum
                  D This user is from outside of this forum
                  davriellelouna@lemmy.world
                  wrote on last edited by davriellelouna@lemmy.world
                  #8

                  The only place in Canada that gets housing right is British Columbia.

                  After decades of failure, the newly elected government of David Eby actually started to fix the problem.

                  Link Preview Image
                  David Eby - Wikipedia

                  favicon

                  (en.wikipedia.org)

                  In the long term, it will pay off. Ontario is still asleep.

                  R 1 Reply Last reply
                  3
                  • D davriellelouna@lemmy.world

                    The only place in Canada that gets housing right is British Columbia.

                    After decades of failure, the newly elected government of David Eby actually started to fix the problem.

                    Link Preview Image
                    David Eby - Wikipedia

                    favicon

                    (en.wikipedia.org)

                    In the long term, it will pay off. Ontario is still asleep.

                    R This user is from outside of this forum
                    R This user is from outside of this forum
                    randalthor@lemmy.ca
                    wrote on last edited by
                    #9

                    How has this impacted the type of development, and price of housing in BC so far?

                    1 Reply Last reply
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