It’s no surprise that housing starts have fallen sharply in Ontario. Unemployment’s up, the marginal home buyer is tapped out, and the Bank Of Canada is not in any hurry to offer relief. Elbows down, people!
In the first quarter of 2025, construction started on 12,700 housing units, which financial accountability officer Jeffrey Novak said is the lowest level since 2009.
That’s down 20 per cent from the first quarter of 2024, a year that also saw relatively low levels of housing starts.
Dougie may need to call in some favors from his buddy Mark, and soon…
Canadian unemployment is rising, and the country’s largest province is leading the trend. Ontario’s unemployment rate climbed to 7.9% in May—nearly a full point above the national average. A new report from BMO warns the province’s unemployment rate is now at a level not seen outside of the worst recessions.
Ontario, in particular the GTA, voted for this, but the rest of are going to end up getting it good and hard.
Yup. Ontario’s agricultural belt voted solidly for blubber douggie last provincial election and the concrete belt voted for Mr. bobblehead in April. And WTF is the difference between those two?
They voted yes, but Ontarians did it to themselves without even voting for it. They just bought into the crony capitalism, and the whole silly drama this province and country is about to become.
It’s left to be seen if Conservatives will actually be Conservative.
People never talk politics because they don’t want to hear it, they don’t want to think about it and they sure as hell can’t be bothered realizing a big fking no goes a long way.
Don’t anyone take this wrong I’m not pointing fingers, but if more people would have told the government to fk off during covid, we’d be looking at a totally different frame of mind from Conservatives and the rest of the parties as well.
When people act like cattle, they get treated like them. No matter how many zero’s you have in your account.
Oh and by the way Canadians are for the most part sorry saps that forget where they came from.
I don’t care about Putin, Trump you name it. Watching Carneys idiots at the helm, able to dodge decent questions with the most idiotic senseless Orwellian answers is just a sign this country needs to be taken out behind the wood shed and taught a lesson.
What’s so maddening is how easy it was to see coming for years now.
Oh and any Red Tories out there quit hiding in the corner because soon there won’t be anything to win.
You’ve been calling the shots every election – own it.
Half measures aren’t going to cut it.
Nation Building ? How in God’s name does a prog get away with such a slur. They tore the damn nation down right under people noses.
But be nice …….. you just have to laugh it’s so senseless.
Shamrock – look at the bright side, they could have voted NDP, again.
“NDP finance critic Jessica Bell said the report shows Ontario is heading in the wrong direction when it comes to housing.
“The premier needs to get serious about making housing more affordable,” Bell wrote in a statement.
“That means investing in building non-profit housing on public land, easing zoning rules to speed up construction, and bringing in strong rent control.”
Because nothing motivates builders to “build baby build” like government intervention that will ensure they never get their investment back.
“like government intervention that will ensure they never get their investment back.”
This, is exactly the thought process of every living, dead, and future, NDiPper, when it comes to capitalism.
Davis – good point.
All I know is that here in CA … our “cheap, green, renewable” utilities are pricing people out of house and home. We are tapped-out here in CA too.
Nonsense. The Carney Admin. has just announced a BRAND NEW affordable Canadian housing program.
http://cdn.c.photoshelter.com/img-get/I00008gPtiTssBb4/s/650/NELD-091.jpg
When properly compacted, moisture conditioned and swept … the dirt floors wear just like prefinished hardwood floors …
You left out the 880,000 new Post National Canadians that the Libs brought in, in the first 4 months.
You have to wonder how many completed units, unsold properties, builders are sitting on. Increased land, labor and material costs combined with the increased cost of debt servicing has to be taking its toll. Despite this a day doesn’t go by where you don’t hear about some new project they say they’re going to build.
To add to their woes the resale market is also heading in the wrong direction with sellers outnumbering buyers by a considerable amount. In all but a few areas homes are spending longer on the market, some not getting any offers at all. Lots of people are sitting on negative equity because they bought with almost nothing down and they were able to finance at abnormally low rates. Those mortgages need to be renewed over the next few years and it will be at rates many can’t afford so odds are we’re going to see inventory continue to increase.
See a lot more “for sale” signs passing through small town Morontario this year compared to years past. I wonder how many of these places were purchased during the wuflu insanity when people thought they’d be working from home forever and would pay anything to do so. A major disadvantage of purchasing in a small town or out in the country is that there may not be a buyer for you when you want to sell.
Kirkland Lake?
The “legalized” counterfeiter, the Bank of Canada, can never help. Other than discontinuing its existence.
Central banks should be made illegal.
Again.