Homeownership Gains Popularity as Buying Momentum Grows

Residential developers are increasingly focusing on purpose-built rental housing, which now accounts for 70% of all housing starts in Canada, driven by government support and market shifts. In the Greater Toronto and Hamilton Area, condo sales and starts have declined sharply, while rental starts remain strong. High rents and down payment requirements trap many in a rental cycle, shrinking the first-time buyer market, which is crucial for overall real estate activity.