New home construction in Ontario has slowed to a pace not seen since 2018, putting Premier Doug Ford’s government further off track from hitting its housing targets.
Housing starts in April in urban areas of Ontario were down a whopping 37 per cent from the same month last year, according to the latest figures reported by the Canada Mortgage and Housing Corporation (CMHC).
Economists see no signs of the slowdown reversing in the months to come, creating the potential for a grim 2024 when it comes to new home construction.
Rule of thumb: Everything the Trudeau government has or will have to say about “fixing” the housing crisis they themselves created is a lie.
