A significant shift is reshaping the GTA skyline. According to a new report from Desjardins, Canada’s housing market is experiencing a massive pivot: while purpose-built rental construction is surging thanks to government incentives, the pipeline for ownership-ready homes is drying up. Condo starts have plummeted below 50,000 for the first time since 2009, with developers increasingly converting projects into rentals to offset high interest rates and falling investor demand. In the GTHA alone, over 11,400 condo units have been cancelled since 2024, with many pivoting to rental tenure. While this helps address the long-standing rental deficit, it creates a looming supply squeeze for aspiring homeowners who rely on condos as their entry point into the market. As these ownership-intended projects evaporate, experts warn that a future recovery in demand could trigger renewed upward pressure on housing prices. For a deeper look at these market mechanics, visit the original article at STOREYS.
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