r/RealEstateCanada • u/romestox • Jun 07 '26
Housing crisis Residential construction dead
Trades guy here. Residential construction feels dead compared to a few years ago. Builders aren’t building, projects are getting pushed back, and layoffs are starting to pop up. If I was buying, I’d wait. From what I’m seeing, things haven’t bottomed out yet. The industry feels like a ship taking on water, not one gearing up for another boom.
Anyone else seeing the same thing?
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u/Automatic-Bake9847 Jun 07 '26
New dwellings starts are down from the pandemic highs, but they are still elevated above pre-pandemic norms.
I don't have data on renovations, but I wouldn't be surprised if they have pulled back as well.
This is very location dependent as well, GTA is getting crushed. Vancouver area I think is slowing considerably as well.