Weak business investment in Ontario has the provincial economy increasingly dependent on Toronto’s housing market for growth, leaving the province especially vulnerable if the market slows, finds a new study released today by the Fraser Institute, an independent, non-partisan Canadian public policy think-tank.
The home building, land development and professional renovation industry builds cities and produces jobs. We are the industry that designs, develops, constructs and renovates the buildings and communities where people live, work, play and shop, and in so doing, are one of the largest employers in the region, providing jobs for thousands of GTA residents every year.
The just released new housing market data for February are both encouraging and discouraging. The data, provided by our official source of new home market intelligence Altus Group, shows record sales for the condominium market, especially in the 905 Region, and it shows an unprecedented scarcity of new housing inventory, particularly for low-rise homes.