Hub Podcasts Canada has made real progress on housing. Now comes the hardest part
Oct 3, 2025
Eric Lombardi, founder of More Neighbors Toronto, discusses Canada's recent housing successes and the looming challenges of a market correction. He highlights the risks posed by falling prices and stalled developments in major cities like Toronto and Vancouver. Tim Hudak and Alex MacDonald present innovative policy recommendations aimed at revitalizing homeownership, suggesting measures like broadening GST rebates, cutting building taxes, and restoring 30-year mortgage amortizations to make homes more accessible. A lively conversation on vital solutions for Canada's housing landscape!
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Toronto's Pre-Sale Collapse
- Toronto has effectively seized up: pre-construction sales are down over 80% and launches have nearly vanished.
- Lombardi uses Toronto as an example of how demand evaporation pauses projects and piles up inventory.
Correction Has Human And Industrial Costs
- Falling prices create negative equity and freeze household mobility, harming lives beyond balance sheets.
- Builders pausing projects risks job losses and erosion of skilled trades needed when demand returns.
Housing Hits More Than Homes
- Financial and municipal exposures can amplify a housing downturn into broader economic stress.
- Lombardi cautions defaults, revenue shortfalls and construction slowdowns could tip Canada toward recession.