Bleak Outlook for New Home Construction in Ontario and BC as Builder Confidence Remains Low: CHBA
Building.ca
AI Article Summary
The Canadian Home Builders’ Association (CHBA) reports a bleak outlook for new home construction in Ontario and British Columbia as builder confidence hits record lows. Both single-family and multi-family housing market indices have scored poorly, reflecting declines in housing starts and significant affordability challenges. Builders cite rising construction costs, high development charges, and economic uncertainty as major concerns. Kevin Lee of CHBA urges government action to focus on housing affordability and infrastructure financing to alleviate the pressures faced by builders and potential homeowners.
