Ontario housing slumps, developers warn situation will "get worse" before improving
Building hundreds of thousands of homes annually is one of Ontario's most pressing priorities, however, the construction industry has been in a slump – thanks to a perfect storm. Two years and multiple housing laws since the Ford government promised to build 1.5 million new homes in a decade to solve the province’s housing crisis, key indicators suggest home construction is grinding to a trickle. The number of housing starts in the first half of 2024 has lagged behind the previous year, while June saw a 44-per cent drop year-on-year. At the same time, new home sales, which can predict future home construction, are also falling. Global’s Colin D’Mello reports. For more info, please go to https://globalnews.ca/news/10647710/ontario-housing-starts-sales-fall/ Subscribe to Global News Channel HERE: http://bit.ly/20fcXDc Like Global News on Facebook HERE: http://bit.ly/255GMJQ Follow Global News on X HERE: http://bit.ly/1Toz8mt Follow Global News on Instagram HERE: https://bit.ly/2QZaZIB #GlobalNews #Ontario #Housing
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Channel: Global News
Building hundreds of thousands of homes annually is one of Ontario's most pressing priorities, however, the construction industry has been in a slump – thanks to a perfect storm.
Two years and multiple housing laws since the Ford government promised to build 1.5 million new homes in a decade to solve the province’s housing crisis, key indicators suggest home construction is grinding to a trickle.
The number of housing starts in the first half of 2024 has lagged behind the previous year, while June saw a 44-per cent drop year-on-year. At the same time, new home sales, which can predict future home construction, are also falling.
Global’s Colin D’Mello reports.
For more info, please go to https://globalnews.ca/news/10647710/ontario-housing-starts-sales-fall/
Subscribe to Global News Channel HERE: http://bit.ly/20fcXDc
Like Global News on Facebook HERE: http://bit.ly/255GMJQ
Follow Global News on X HERE: http://bit.ly/1Toz8mt
Follow Global News on Instagram HERE: https://bit.ly/2QZaZIB
#GlobalNews #Ontario #Housing
Video length: 2:13
Category: News & Politics
468 comments
Channel: Global News
Building hundreds of thousands of homes annually is one of Ontario's most pressing priorities, however, the construction industry has been in a slump – thanks to a perfect storm.
Two years and multiple housing laws since the Ford government promised to build 1.5 million new homes in a decade to solve the province’s housing crisis, key indicators suggest home construction is grinding to a trickle.
The number of housing starts in the first half of 2024 has lagged behind the previous year, while June saw a 44-per cent drop year-on-year. At the same time, new home sales, which can predict future home construction, are also falling.
Global’s Colin D’Mello reports.
For more info, please go to https://globalnews.ca/news/10647710/ontario-housing-starts-sales-fall/
Subscribe to Global News Channel HERE: http://bit.ly/20fcXDc
Like Global News on Facebook HERE: http://bit.ly/255GMJQ
Follow Global News on X HERE: http://bit.ly/1Toz8mt
Follow Global News on Instagram HERE: https://bit.ly/2QZaZIB
#GlobalNews #Ontario #Housing
Video length: 2:13
Category: News & Politics
468 comments
