4 d. ago Toronto on pace for lowest annual housing starts in 30 years, CMHC says

Flat housing starts for seven key metropolitan areas, despite some markets building new homes at record pace

Culture

8 d. ago The average home is now going for way under asking price in almost 100% of the GTA

The days of Toronto serving as one of the hottest cities in the world for real estate have come and gone, as the region continues to struggle with an abundance of condos, townhomes and houses that no one seems interested in purchasing.Leaders continue to underscore how crucial it is that we ramp up residential construction, yet a record number of homes — upwards of 30,000 — sit on the market each month.The disparity between supply and demand has hit a new high this year, but in the complete opposite way than most may have expected: sales activity is in freefall as more and more properties hit the market, and properties are sitting on the market for far longer as a result. It means that those few who aren't balking at interest rates, recession, tariffs and general economic precarity, and are actually looking to invest, have been able to nab quite a deal.According to recent data, in a whopping 98 per...

Economics

1 week ago Carney’s cabinet retreat begins as trade war set to dominate fall agenda

This fall, the Carney government will aim to push through the creation of two new federal agencies: the Major Projects Office and Build Canada Homes.

Economics

1 week ago Canada needs to build homes in record numbers for a decade to drive down prices

Canada must deliver 3.2 million net new housing units by 2035 to close the country's supply gap, according to a new updated analysis by the Government of Canada's Parliamentary Budget Officer (PBO).That works out to about 290,000 net new homes per year — a pace the country has never sustained. Net new takes into account the homes that have been demolished to make way for new additional homes.The report comes as household formation surges and then slows. After hitting a record 482,000 new households in 2024, the PBO projects a sharp decline in 2025 and 2026 due to recent federal policies curbing immigration. Household formation is expected to remain well below the historical average of 176,000 per year until 2030.On the construction side, the PBO expects a short-term boost, with completions averaging 256,000 units annually over the next three years. But beyond that, housing starts are forecast to fall back to historical norms, with about 2.5 million new units delivered ...

Economics

1 week ago Someone built a working model of Canada's Wonderland coaster in his yard

While the real Yukon Striker ride at Canada's Wonderland took 13 months to build and years of planning, one audacious YouTuber recently undertook the daring task of constructing a working model of the dive coaster in his yard. The U.K.-based content creator, who runs the YouTube channel TheKnexMaker with 22,000 subscribers, built the world-record-breaking dive coaster last month, completely out of K'NEX and documented his whole process. The legendary roller coaster at Canada's Wonderland holds the record for being the tallest, longest, and fastest dive coaster in the world, with a 245-foot-tall, 90-degree drop and a maximum speed of 130 km/h. It's also the only dive coaster in the world with a 360-degree loop. In the 11-minute video, the YouTuber designs, engineers, and constructs the roller coaster piece by piece (or rather, K'NEX by K'NEX), including its towering vertical drop and all of its twists and turns...

Other

2 w. ago Germany makes pitch to build Canada’s new subs, says early deadline is ‘perfectly feasible’

Mark Carney announced earlier this week that Germany's TKMS and South Korea's Hanwha Ocean are the final two contenders for the contract

Events

2 w. ago No one is buying new homes in Toronto anymore as sales plummet below '90s crash

Even if you're not at all involved, or even interested in Toronto real estate, the sales trends of the last while have been absolutely fascinating, with owners, investors, developers, and realtors left stranded at sea as the market is flipped on its head.The conflation of a brutal economy, rampant unemployment, the ongoing trade war with the U.S., higher interest rates (which are, thankfully, finally on the decline following a peak through 2023 and 2024), and eternally overvalued property has led the GTA to its current point: a months-long standoff in which would-be buyers are completely steering clear of the market.It's caused home sales numbers to tank to record lows, listing volumes to skyrocket to record highs, and available homes to sit up for sale for far longer.It's also pushing developers to put a decided halt on new construction, especially when it comes to the condo segment, which i...

Events

2 w. ago Opinion: New national housing push offers the chance — and an obligation — to get it right

When Prime Minister Mark Carney called out “build, baby, build” to the cheering crowd on Canada Day, it was more than a rallying cry. It was federal policy. A key part of the government’s plan is to double the number of homes — faster and more affordably — with the help of a new crown […]

Society

2 w. ago Blue Jays bullpen implodes as closer Jeff Hoffman booed off the field in ugly loss to Twins

What do Blue Jays fans see when they pack the Rogers Centre with regularity? On most nights, they see a team with the best home record in baseball. On Tuesday night, however, the sellout throng of 42,235 witnessed a car crash of a collapse by the Blue Jays bullpen in one of the most disheartening […]

Other

2 w. ago Canada on track to build far fewer homes than needed to meet housing gap

According to PBO’s projections, 2.5 million new homes will be added to Canada’s housing stock by 2035 — an addition of 227,000 net new units completed annually over 2025 to 2035.

Other

2 w. ago Parliamentary Budget Officer says 3.2 million new homes needed to close housing gap

OTTAWA — The Parliamentary Budget Officer estimates Canada needs to build 3.2 million new homes in the next decade to close the housing gap but isn’t currently on track to do that. The latest PBO report estimates the number of new home builds will be higher over the next three years but will gradually return […]

Economics