Homebuyers who gambled that buying a home before it was built could get them an early foothold in an expensive market are discovering what happens when values drop.
A growing number of Canadians — especially in condominium markets such as Toronto’s — are learning the hard way that when property values fall, developers and lenders aren’t willing to absorb the loss without a fight.
Canada's condo crash "Condo prices are still plummeting in parts of this country and it's causing major money troubles for people who bought in early."
"…No one escapes. Every single person is closing on a unit that they bought five years ago that's worth less than what they… pic.twitter.com/AbZ3IjSDjd
— cbcwatcher (@cbcwatcher) February 23, 2026
