The following is a joint statement released on Oct. 27 by members of Ontario’s housing sector, including the Toronto Regional Real Estate Board (TRREB) and Ontario Real Estate Association (OREA).

Ontario is facing a housing emergency. Projects are stalling, builders are cancelling developments and families and individuals are being priced out of the market.

As the provincial and federal governments prepare to release their fall economic statement and budget respectively, our message is urgent: bold, coordinated action is needed to boost housing construction, lower costs and bring affordability back within reach for residents.

Housing is more than just shelter; it’s the foundation of our economy and the heart of our communities. Today, Ontario’s housing sector, from builders, Realtors, business groups, trade associations, not-for-profit organizations and rental providers, speaks with one clear voice. Together with governments at all levels, we must move swiftly to unlock housing supply, cut costs, and restore affordability by accelerating ownership and rental housing delivery.

We acknowledge the positive work done so far by the federal, provincial and municipal governments regarding policy developments, zoning reform and funding programs to encourage more housing construction, including the most recent provincial housing bill, Fighting Delays, Building Faster Act, 2025, which signals the government’s intention to take further practical steps in cutting red tape, lowering construction costs and restoring confidence and investment in the rental housing market by speeding up slow resolution processes to adjudicate landlord and tenant disputes. Other efforts include the Housing Accelerator Fund, the Apartment Construction Loan Program, Build Canada Homes, the Building Ontario Fund, the Municipal Housing Infrastructure Program, reform to end exclusionary zoning and allow as-of-right construction of multi-plexes on single lots and the Building Faster Fund, among other projects. However, more action is still needed.

We also recognize that potential disruptions impacting the housing ecosystem that are outside the direct control of governments and industry, such as trade wars, geopolitical tensions and economic uncertainty, need to be considered as we navigate an uncertain environment at the macro level. 

Housing remains the backbone of Canada’s economy. It supports over 1.2 million jobs and contributes more than $143 billion in economic activity yearly to Canada’s Gross Domestic Product (GDP). However, rising costs, difficult regulatory environments, economic uncertainty and constrained supply have slowed new housing starts and home purchases, putting tens of thousands of skilled trade jobs at risk. This will impact spin-off economic activity in related sectors and push both home ownership and rental housing further out of reach for many residents.

To meet Ontario and Canada’s housing challenge, a united focus on delivery is required. By reducing construction costs, attracting investments and aligning tax policy, zoning and approval systems, governments at all levels can restore confidence, protect jobs and support innovation at the speed and scale Canadians urgently need.

Policy priorities for immediate action

To restore affordability and confidence in the housing market, we are calling on municipal, provincial and federal governments to work collaboratively with the housing sector by adopting the following measures:

1. Position and profile housing as an economic driver: To ensure housing policy is economic policy, recognize housing construction and trade as a core driver of employment and GDP, adopt a framework to preserve the tremendous job creation that the housing industry generates, and acknowledge that housing unaffordability is also affecting our overall economic productivity, especially in the Greater Toronto Hamilton Area (GTHA).

2. Modernize outdated tax rules: Extend the GST/HST exemption on new homes up to $1.5 million for homebuyers, reflecting current market realities, particularly in major urban centres, and encouraging new construction.

3. Cut costs for homebuyers: Align cost recovery with actual service delivery and housing goals to reduce barriers to construction and costs to homebuyers. Municipalities and provinces need to collaborate with industry to modernize the fee structure applied to new housing, which is currently inflating housing costs and constraining new supply.

4. Build faster through innovation in parallel to traditional building: Support the advent, inclusion and expansion of modern construction methods – including panelized systems, modular building, robotics and other emerging technologies that embrace productivity, reduce costs and construction time, and enable homebuilding at scale. These need to be supported by an innovation policy framework created in partnership with the industry that provides incentives for early adopters and customers of new solutions, as well as investments in Canadian companies providing new solutions. Scaling up pioneering methods should be done in addition to supporting the ongoing innovation and productivity of traditional construction techniques.

5. Free up land and end exclusionary zoning: Act decisively to end outdated zoning restrictions to permit gentle density and a wider mix of housing types, especially missing-middle and multi-unit dwellings in more communities.

6. Incentivize private capital: Encourage programs that incentivize private capital, both investment and philanthropic, for both rental and ownership housing to accelerate market and non-market construction. This should include reintroducing the Multiple Unit Residential Building (MURBS) tax incentive.

The housing sector stands ready to partner with every level of government. Together, we can reignite momentum, rebuild confidence, restore affordability through partnership, innovation and investment, and deliver the homes our communities urgently need.

Signed:

John DiMichele, CEO, Toronto Regional Real Estate Board

Luigi Favaro, CEO, Ontario Real Estate Association

Ene Underwood, CEO, Habitat for Humanity GTA

Michael Brooks, CEO, Real Property Association of Canada

George Carras, CEO, R-LABS Canada

Jonathan Nusbaum, CEO, Terra Modular

Marlon Bray, executive vice president, Clark Construction Management

Tony Irwin, president and CEO, Federation of Rental-housing Providers of Ontario/Rental Housing Canada

Daryl Chong, president and CEO, Greater Toronto Apartment Association

Dave Wilkes, president and CEO, Building Industry and Land Development Association

Kathy Hogeveen, chief of operations, Assembly Corp.

Jude Tersigni, vice president of planning and development, Menkes Developments

Richard Lyall, president, Residential Construction Council of Ontario

Roselle Martino, executive vice president, policy and strategic affairs, Toronto Region Board of Trade

Frank Cairo, co-founder and CEO, Caivan Communities

Nhung Nguyen, CEO, Horizon Legacy

The post Ontario housing sector presents united front on supply, affordability appeared first on REM.

According to real estate sales and marketing company MLA Canada, only 35 projects launched in the past year — over 40 per cent below the five-year average — and fewer than 400 presale units sold, marking an 85 per cent decline from historical benchmarks.

For Barrett Sprowson, senior vice president, residential at Peterson Real Estate, the numbers match what he’s seeing on the ground.

“I’ve said the market is stagnant (but) that was very diplomatically understated. If I were a little more honest, I’d say it’s kind of anemic and as flat as I’ve ever seen it.”

How we got here

Sprowson describes the current climate as the result of a long buildup of policy and economic shifts.

“It’s the classic case of the frog in the water (slowly) getting boiled. For the longest time, the market bailed us out on many of the regulations, fees and taxes various governments have layered into the equation,” Sprowson notes.

But now, he says the bailout has stopped, and the rise of interest rates has compounded the issue, with, “The typical everyday buyer moving to the sidelines.”

And while buyers hesitate, supply from earlier cycles is now hitting the market.

“We’re starting to see a lot of the delivery and completions of projects that started in that really robust cycle coming out of the pandemic. That’s causing oversupplied inventory in the current market.”

In other words, today’s glut will work its way through, but the resulting slowdown in new project launches means supply shortages — and price spikes — could follow in a few years.

The role of government intervention

One thing Sprowson highlights is the “perfect storm” of fees, taxes and levies layered on new development.

He notes that about 35-40 per cent of a new home’s cost is some type of fee or levy that the end user absorbs. “It’s got to a point where the buyer can’t accommodate the fees and taxes. And on top of that, we charge GST and property transfer tax. It’s tax on top of tax.”

Sprowson feels government intervention to reduce these costs is the biggest thing that could make a difference.

The British Columbia government recently announced changes to how Development Cost Charges (DCCs) are collected, allowing delayed payment schedules. But while Sprowson welcomes the move, he says it doesn’t address the fundamental issue.

“It’s helpful. It’s a good strategy and we’re all appreciative of governments listening … But like my friend Michael Ferreira at Anthem Properties said recently, ‘It’s like they’re nibbling around the edges.’ It’s not moving the bigger levers I think should be looked at.”

Without significant cost relief, he warns, many projects simply won’t start. “We essentially cannot deliver homes at a price that the market can pay or will absorb.”

What this means for Realtors

For Realtors working to move presale inventory, Sprowson says success comes back to the fundamentals.

“Gone are the days when you overprice a home to get a listing and the market takes care of it. Accurate, aggressive pricing will be in your clients’ best interests.”

Beyond pricing, execution matters. Sprowson says the best Realtors he’s worked with have a specific plan for every home, not a blanket approach. And they’re responsive.

“If you’re a listing agent, you’ve got to be on your showings … It’s not rocket science. Give good service, be efficient, be effective. Follow up. Get back to basics.”

What to watch for this fall

Looking ahead to the fall presale market, Sprowson doesn’t expect a dramatic change unless a few big things shift.

For one, the federal government would have to figure out things with the U.S. to remove the uncertainty impacting various market factors.

The second thing would be some kind of interest rate relief, while the third would be a significant move by the different governments on DCCs and other fees, regulations and taxes attached to development.

If even a couple of these things occur, he says, “Then I think things really loosen up … Ever the optimist I am, I believe something will shake loose, hopefully in favor of the buyer and maintaining supply.”

For now, developers like Peterson are staying active with a mix of projects across rental and presale. The company is leasing up its Revolve purpose-built rental in East Vancouver, preparing to complete another nearby project early next year, and breaking ground on a significant West Side community.

As for the broader presale market, Sprowson points to resale data as the leading indicator of recovery. “If the resale market starts pushing up towards the 10-year sales averages, as soon as people start missing out on homes and there’s multiple offers, then we’ll start seeing it.”

Until then, Metro Vancouver’s presale market looks set to remain in a holding pattern, waiting for buyers to return, government to adjust its levers or both.

Emma Caplan-Fisher

Emma Caplan-Fisher is an editor and writer for REM. She has over a decade of experience in various content types and topics, including real estate, housing, business, tech, and home & design. Emma’s work has also been featured in Cottage Life, the Vancouver Real Estate Podcast, the Chicago Tribune, Narcity Media, Healthline, and others. She holds a Certificate in Editing from Simon Fraser University.

The post Presale market stalled: What’s ahead for Metro Vancouver’s new-build housing? appeared first on REM.

Terms like “purpose-built rentals,” “multi-family homes,” and “sustainable development” are more than just industry buzz. They represent a shift in housing strategy that directly impacts the decisions Realtors make and the advice they give their clients. For Canadian Realtors, understanding these concepts is crucial to staying relevant and responding effectively to evolving market needs.

If you’re a Realtor, you’re likely already fielding questions from buyers and renters about affordability and the future of housing. So, what do these concepts mean for your business, and how can you apply this knowledge to serve your clients better?

What defines sustainable policy?

“Sustainable” is a term we hear often, especially when it comes to economic and environmental issues, ranging from global to local levels. But what exactly does sustainability mean for new homes?

Sustainable development focuses on three main pillars: environmental, social, and governance (commonly referred to as ESG for short). These commitments address important issues that affect both the environment and society. 

Policy in development and urban planning is essential in helping manage environmental impact, including waste management and consumption. The social aspect looks at quality of life for clients and employees alike, while the governance pillar focuses on everything from data protection to resident and investor rights. 

In April 2024, the Government of Canada introduced the “Solving the Housing Crisis: Canada’s Housing Plan,” aiming to unlock millions of new affordable homes by 2031. This comprehensive strategy focuses on accelerating housing construction and promoting sustainable development across the country.

These ESG policies, in combination with each other, act as overarching guidelines for design implementations, ensuring new developments meet the demands of the modern market. 

Key pillars of sustainable residential development in practice

Adaptive reuse: Enhancing efficiency and reducing waste

Another area of interest is adaptive reuse, where existing structures, such as schools or churches, are converted into housing. This form of development preserves community character, reduces construction waste, and expedites the building process compared to starting from scratch. Realtors who understand how adaptive reuse works have a unique edge when working with investor or developer clients.  

These types of buildings have a unique charm that many potential buyers or renters are looking for. Similarly, infill housing (densifying underused lots within urban or suburban areas) is gaining momentum in places like Ottawa, Calgary, and Hamilton.

Revitalizing neighbourhoods and strengthening communities

Housing shortages are a pressing concern in many of Canada’s urban centers, contributing to rising rental and purchase prices nationwide. This means paying close attention to where these infill projects are happening. These projects often bring new listings in highly desirable neighbourhoods, and by staying on top of local planning updates, you can identify these growth pockets early and help both buyer clients and investors get ahead of future demand. You can also guide clients looking for walkable communities toward mixed-use developments that combine housing with amenities such as grocery stores, pharmacies, restaurants, and cafes, as these features are an increasingly important factor that clients are seeking. 

Just look at the recent popularity of the concept of the “15-minute city,” where renters and buyers are seeking homes in places where they can easily walk or bike. 

Championing purpose-built rentals and future-forward development 

In 2024, CMHC reported that Canada’s purpose-built rental market experienced its highest annual supply growth in over three decades, increasing by 4.1%. This surge was particularly notable in Montréal and Calgary, which contributed significantly to the national increase. While the market won’t shift completely overnight, these types of projects are steadily increasing in numbers, and they represent significant opportunities. 

Start by building relationships with developers focused on these builds so you can be among the first to market new inventory to renters or buyers. Educate your clients about the benefits of professionally managed, purpose-built rentals, including modern amenities and long-term rental security. By positioning yourself as a resource on these trends and connecting clients to emerging developments, you not only add value to the client experience but also expand your own reach in a fast-evolving market.

How does this impact me and my clients? 

Clients expect their Realtor or leasing agent to be more than a transaction facilitator. They’re looking for someone who can help them understand not just what’s available, but why certain properties or neighbourhoods might be better aligned with their goals. That means that being informed about sustainable housing strategies sets you apart. Attending municipal planning meetings, staying in touch with local builders, or simply keeping tabs on ESG initiatives in your area can go a long way in setting yourself apart. Even just subscribing to local development newsletters is a great way to stay up to date.

While economic uncertainty has certainly slowed some development, it has also sharpened the focus on sustainable planning. Realtors who recognize that sustainability isn’t a passing trend but an actual structural change in how communities grow will be better prepared to thrive in the evolving Canadian housing market. 

Actionable steps for Realtors

• Subscribe to local municipal newsletters to stay informed about new developments and housing policies.
• Engage with developers specializing in purpose-built rentals to gain early access to upcoming projects.
• Attend local planning meetings to understand zoning changes and infill project opportunities.
• Educate clients on the benefits of sustainable and ESG-compliant housing options.
• Utilize tools like CMHC’s Housing Market Information Portal to analyze regional housing trends and data.
• Promote walkable, mixed-use communities that align with the “15-minute city” concept to clients seeking convenience and sustainability.
  

Natasha Plotnikov

Natasha Plotnikov is an architectural and landscape designer with over 12 years of experience.

While her career began exclusively in architecture, the last seven years have been split between design and marketing positions. She has worked with commercial and residential real estate clients with assets ranging from a few hundred to several million square feet. She
currently manages Community Development for Accora Village, Canada’s largest privately owned and dog-friendly rental community.

The post The Realtor’s guide to Canada’s sustainable housing future appeared first on REM.

Until we start solving the right problems, all the money, headlines, and government promises in the world won’t get us anywhere near sustainable growth.

Getting to the root cause

Let’s start by unpacking the narrative. Across every level of government, housing has become the political scapegoat of choice. But blaming the housing “shortage” is like blaming a doctor shortage for long ER wait times—it sounds intuitive, but it’s fundamentally misleading. In health care, we don’t actually lack physicians; we lack compensation structures that reward patient throughput. 

Under Ontario’s Academic Funding Plan, for example, many doctors receive a salary rather than fee-for-service billing. There’s no financial incentive to increase volume. So waitlists grow, not for lack of supply, but for lack of systemic efficiency.

Sound familiar?

In real estate, we face the same false premise. There’s no actual shortage of land, materials, or interest from developers. 

What we lack is coordinated infrastructure, aligned policy, and a functional approval process. 

Kingston: A case study for collaboration

Take Kingston, Ont. as a case in point. The city already has the land capacity to meet growth projections with medium- and high-density housing. But the Provincial Policy Statement (PPS) is pushing expansion beyond the urban boundary anyway, forcing new infrastructure spending in areas that don’t need it. That’s not growth. That’s sprawl.

Even worse, when we do invest in infrastructure, we often do it in silos. Picture going to work and discovering that your entire organization has been building toward different goals, with different blueprints, timelines, and metrics. That’s how cities operate when housing policy is separated from transportation, utilities, schools, and health care planning. Everyone’s working hard, but no one’s working together.

That’s why it was so refreshing to see the City of Kingston take a different approach: aligning its updated Official Plan with the Integrated Transportation and Mobility Master Plan and utility infrastructure strategy. 

This is what real master planning should look like. For too long, “master-planned communities” have been a marketing slogan, not a reality. If you don’t believe me, go look at school bus routes. Many of our new subdivisions were built without long-term demographic logic. They fill quickly with young families and then age out, leaving brand-new schools half empty a decade later.

We should be building communities people can live in across every life stage—from first-time buyers to retirees—all in the same postal code. Instead, we’re spending more public dollars than ever, producing fewer homes, and pointing fingers at the wrong culprits.

“We need carrots, not sticks”

The truth? Government doesn’t need to get back into construction. It needs to get back into coordination. Growth can and should pay for growth. New tax revenue can fund social and affordable housing—if we allow development to happen on time, on budget, and in alignment with local infrastructure needs. But that only works if we stop penalizing builders with outdated fees and start incentivizing them to build efficiently.

The Housing Accelerator Fund made a great headline, but very few municipalities will see the money. Why? Because the targets tied to that funding are unrealistic. We need carrots, not sticks. Instead of dangling unreachable housing starts, why not eliminate development charges and redirect federal dollars toward infrastructure expansion? Why not reform the New Home Warranty Act to encourage emerging builders with completion-based incentives instead of regulatory gatekeeping?

The system isn’t broken. We’ve just stopped reading the rulebook—if we ever had one to begin with. Fixing this isn’t about grand reinventions. It’s about understanding how all the moving pieces fit together, and then holding people accountable for playing their part.

Let’s stop chasing housing headlines. And start solving infrastructure problems.

Joel Thompson

Joel Thompson is a real estate broker and housing advocate who believes the system isn’t broken—we’ve just never handed out the instructions. Actively engaged in municipal, provincial, and federal politics, Joel uses his platform to push for practical, inclusive solutions in housing, infrastructure, and industry reform.

The post OPINION: Canada’s housing crisis is really an infrastructure crisis appeared first on REM.

According to CMHC, between 430,000 and 480,000 new housing units will need to be built annually over the next decade to restore affordability. This is an approximate doubling of the current pace of home construction in Canada. 

“Doubling the pace of housing construction in Canada is achievable, but not without a significantly larger and modernized workforce, more private investment, less regulation, fewer delays, and lower development costs,” said Aled ab Iorwerth, deputy chief economist for CMHC. 

“It will also require significant innovation in construction technology and growth in labour productivity.”

In a recent report, TD Bank said 400,000 new units per year may be enough to tackle the housing shortage. However, TD economist Rishi Sondhi warned that construction sector productivity and a retiring workforce are “structural challenges that will need to be overcome.” 

Which regions have the biggest supply shortfalls?

By province, the most significant housing supply gaps are in Ontario and Nova Scotia, which saw some of the fastest rising housing costs due to the pandemic, and British Columbia, said CMHC.

“By estimating housing supply gaps across Canada, our goal is to ensure policymakers from all orders of government, as well as the private sector, understand the scale of the challenge,” said Aled ab Iorwerth. “Systemic changes are essential if we are to double the pace of homebuilding in Canada.”

Supply gaps by city

• According to estimates, Montréal faces the largest housing supply gap of the large Census Metropolitan Areas (CMAs). Current trends show “housing affordability challenges will become much more acute if housing supply is not significantly increased,” said CMHC. 

• In Toronto, it’s estimated a 70-per-cent increase in homebuilding over the next decade would help to improve affordability issues. Despite increased rental construction in recent years, the region is lacking homeownership options that match local incomes.

• In Vancouver, it is estimated 7,000 additional homes are needed annually above the “business-as-usual” scenario, an increase of 29 per cent. In 2023, more than 33,000 housing starts were recorded in this area. “This continued level of construction would help the region’s longstanding affordability issues for both homeowners and renters,” reads the report.

• Calgary, which has seen record levels of home construction for three consecutive years, is estimated to need 45 per cent more new homes annually above today’s levels. “This would help counter post-pandemic affordability challenges for both the homeownership and rental markets,” reads the report.

• Ottawa-Gatineau is estimated to have the second-largest housing supply gap of Canada’s large CMAs. The region saw increased homebuilding from 2021 through 2023, but since the pandemic, new supply has not kept pace with increased housing demand.

• In Edmonton, no additional supply is required beyond what is currently projected, as sufficient market housing is expected to be built in the region to maintain affordability by 2035. 

The post Systemic changes “essential” to ramp up Canada’s homebuilding: CMHC economist appeared first on REM.

George Carras

George Carras is a Professional Engineer, entrepreneur and trusted innovator in Canadian real estate. In 1995, he founded his first company, RealNet Canada Inc., which became the official source of industry information to over 45,000 real estate professionals, industry associations and government institutions. George is currently the founder & CEO of R-LABS Canada, the Real Estate Industry Venture Builder, a partnership of innovative corporations, institutions and game-changing entrepreneurs co-founding new companies that solve major problems in real estate and housing. He is a past president of Toronto NAIOP, a co-founder of the NAIOP REX awards program and the Schulich Developers Den Case Competition.

Get more information on the 2024 Industry Innovation Agenda here and join a community of changemakers taking leadership in solving Canada’s most pressing housing and real estate issues.

The post Do realtors hold a key to reshaping Canada’s housing sector? There are innovative solutions to explore appeared first on REM.

Chris Chopik

Chris Chopik is an influential housing industry innovator and a respected authority working at the intersection of housing, energy, resiliency and natural hazards. Chopik’s work includes an extensive exploration of the future of “Property Value in an Era of Climate Change” (2019) where he examines the financial impact of natural hazards on property values across North America. He holds a Master of Design, Strategic Foresight and Innovation from OCAD University. 

The post How natural hazard and its catastrophic loss impact housing affordability, supply and demand appeared first on REM.

The post Canadian Home Builders’ Association unveils strategy to build 5.8 million homes and address housing crisis appeared first on REM.

The post Ontario making strides in housing supply, urgent action needed to address affordability crisis: OREA appeared first on REM.

Jonathan Cooper

Jonathan Cooper is the President of Macdonald Real Estate Group (MREG). Based in Vancouver and with an annual sales volume of over $7.4B in 2023, MREG has 1100 staff and agents and 24 offices, offering residential and commercial brokerage, project marketing, and property and asset management for a $6B portfolio. His commentary and op-eds on the real estate business have appeared across various media platforms, including REM, Inman News, Bloomberg BNN, and The Vancouver Sun.

The post ‘Build more homes, faster,’ says Trudeau — how land transactions, housing supply and project feasibility factor appeared first on REM.