Plunging Housing Starts In Ontario To Have “Dire Consequences” By 2026: RBC

The article discusses a report from RBC highlighting a significant drop in housing starts in Ontario despite national increases, with only 62,700 starts in July, a 24% decrease from the previous year. This downturn threatens to worsen Ontario's housing affordability crisis and disrupt the provincial government's goal to build 1.5 million homes over 10 years. High development costs and a slowdown in pre-construction condo investor interest are significant barriers. Without addressing these challenges, Ontario's housing pipeline may experience a severe shortfall by 2026, potentially exacerbating existing supply gaps.