From Toronto to Vancouver to Ottawa: The housing slowdown is spreading

From Toronto to Vancouver to Ottawa: The housing slowdown is spreading

Canada’s housing market is facing a structural challenge with immediate and long-term consequences: housing starts in the country’s largest urban centres are slowing sharply, with no signs of a near-term recovery.

The Greater Toronto Area (GTA) was the first to see significant declines, followed by Metro Vancouver and now Ottawa. The pattern is clear, and unless action is taken, other major markets are not immune and could follow suit.

This is not a temporary pause or a market correction. It’s a systemic malaise — the kind that has every indication of deepening in the months ahead.

At a time when Canada needs to double housing starts to meet demand, the numbers in many urban centres are moving in the opposite direct