CA - Real Estate Bust Has Compound Impacts

2024-07-04 12:35:00 ET

Summary

• The Greater Toronto Area is home to approximately 8 million Canadians, which account for some 20% of Canada’s Gross Domestic Product.
• Construction projects have multi-year lead times and fixed-term loans have staggered renewals.
• The supply of condos for sale in Ontario has risen, 1220% since January 2022 and the inventory-to-sales ratio is at a 14-year-high.

The Greater Toronto Area (GTA) is home to approximately 8 million Canadians (about 20% of the country’s population) which account for some 20% of Canada’s Gross Domestic Product ((GDP)). For context, the GTA is as important to Canada’s economy as the eight largest US cities are to the American economy....

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