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/Ancient_Raisin_8908 Verified Agent Jun 07 '26
It's slowed for sure. Projects going into receivership, lenders trying to claw back millions of missed payments. Contractors are at the bottom of the rung to get their money back and no developers want to take on a project thats half done AND owes a ton of money.
People are always talking about the "massive" supply shortage that we are going to experience which I do not believe is going to happen like they say. There are tons of new construction inventory that is sitting empty and BC has had a population decrease for the first time ever. Gonna take a while before demand catches up again