Why the condo slump matters for the housing crisis скачать в хорошем качестве

Why the condo slump matters for the housing crisis

A recent report said that condo sales in Toronto are at a 27-year low. Insolvencies amongst condo developers are rising and set to be 57-per-cent higher than 2023 and 13-per-cent higher than 2009. This means there are a glut of units for sale. And yet, prices aren’t really going down. So what’s happening here? Rachelle Younglai, a real estate reporter for The Globe and Mail, explains why the pre-construction market is in ‘recessionary territory’ and how all of this could make Canada’s housing affordability crisis worse over the next few years. Subscribe to The Globe and Mail's Morning Update to get stories directly in your inbox: https://www.theglobeandmail.com/newsl...