No One Wants to Buy a Condo

The Canadian condominium market is struggling, with decreasing rents and sales, particularly in Toronto and Vancouver. Many condos, originally intended for investment rather than living, are now worth less than their mortgages, leading developers to cancel projects. This situation is exacerbated by poor architectural decisions and high interest rates. There is a growing call for reassessing housing regulations to facilitate smaller developers and focus on purpose-built rentals to address the housing crisis.