Toronto’s housing pipeline just hit a slowdown—building permits are dropping hard.
Early-Summer saw 1,841 new units approved, less than half the 7-year avg.
Why? Building costs are too high, home prices too low—projects don’t add up.
Fewer permits now = fewer homes later, which could push rents and prices higher.
But right now? Toronto rents are actually falling—one-bedrooms average $2,286, down 6.4%.
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