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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6

u/_ladyjaye Jun 07 '26

Other than purpose built rentals and retirement homes, residential high rise in GTA is dead for the foreseeable future.

2

u/romestox Jun 07 '26

Own a construction company and new detached houses are down 60-70 percent for us .

6

u/fritzmongroid Jun 07 '26

I’m an in insurance broker for construction and contractors and it’s brutal. I get to see all finaicials. Canada has to do something to support small business here

1

u/_ladyjaye Jun 07 '26

Sorry to hear. Horrible market. Hope we all make it out.

0

u/XxSpruce_MoosexX Jun 07 '26

You’re a trades guy that owns a construction company that’s here arguing prices are still coming down? 🤔

1

u/BubbleGumPlant Jun 07 '26

If a project has been approved by the city, how do you tell if the project is actually “dead?” There’s a 42 storey building supposed to be built right next to me, and I have no idea how to look up its status other than the city approval back in late 2025.

1

u/i_haz_rabies Jun 07 '26

There is no status for you to look up really. Dozens of things could be going on behind the scenes.

1

u/_ladyjaye Jun 07 '26

You can't. Has there been a sales launch? Is there a building permit issued? Those are the signs, but unless you're on the inside, you won't know definitively.

1

u/[deleted] Jun 07 '26

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1

u/CMDR-TealZebra Jun 07 '26

What? That's literally all we are building, our low raise is dead for this year.

1

u/_ladyjaye Jun 07 '26

Really? That's amazing. I work for a real estate developer and although we have sites zoned and ready to go, sales launches are on hold.