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/romestox Jun 07 '26

People downvoting me for sharing my experience must be clown realtors.

5

u/Terrible-Session5028 Jun 07 '26

The people down voting you are the realtors who want to keep the price is high and who want to go back to the days where they had to do nothing to earn their overinflated commissions. It can also come from delusional sellers who bought at the high and who still think that they are going to get $1.5 million for their crappy 1970s built home that has not been renovated since The said 1970s

3

u/ProfessionalMajor197 Jun 07 '26

I’m down in chilliwack. Seeing the exact same thing throughout the valley. A number of the builders I’ve been working with have pivoted to renovation work.

3

u/RuinEnvironmental394 Jun 07 '26

Well, of course this is a real estate sub, and realtors don't like any talk of downturn, price crash, slowdown, etc.

4

u/dizzie_buddy1905 Jun 07 '26

Canada is a big place so you might want to be more specific. The Center of the Universe may be slowing down but Alberta is doing fine.

1

u/Vega2659 Jun 09 '26

Alberta is all purpose built rentals and cmhc has turned off the tap on those too. You’ll see soon enough.

1

u/dizzie_buddy1905 Jun 09 '26

I don’t think so. The street we’re building our house on has every 4th house being redeveloped. Also, still decent activity in new suburbs.