The loss of pulse…

Hello, a very good morning; it’s mid-May and here we go… another little race toward I-don’t-know-what. Are you all well? That is what matters most. Throughout our province and big city, the issue is the real estate crisis. It’s not news, right?

What also isn’t news is the loss of jobs. Effectively, the unemployment rate is growing more and more, and then there is also the issue of mortgage interest rates. And the belt tightens further… what will become of this great country? And where are our government officials to support the people who are on the verge of losing the roof over their heads?

Let’s try to better understand what is happening — the real estate market in the province of Ontario, especially in the Toronto region, continues to face a prolonged adjustment in this year of 2026, characterized by low sales, falling prices, and an oversupply of condos. Residential sales fell significantly in early 2026, with experts predicting further price drops due to high unemployment and the fact that we are in a period of mortgage renewals.

Key Aspects of the Crisis in 2026

• Drop in Sales: The Toronto region recorded the lowest number of sales in 25 years in 2025—a scenario that persists in 2026, with drops of 16.2% in January compared to the previous year.
• Price Correction: After the 2022 peak, average prices in Canada fell by about (21%). In Toronto, it is predicted that home prices could fall a further (4.5%) in 2026.
• Condo Oversupply: A wave of new condominium projects completed, especially after the pandemic, has generated oversupply, pushing resale and rental prices down.
• Developers in Retraction: High construction costs and the market slowdown have led to a drop in the start of new projects.
• Challenges for Buyers: Despite the correction, high interest rates and the cost of living make access to housing challenging, with the average price in Canada still high, exceeding $673,000.

The scenario reflects a shift from a seller’s market to a more balanced market or a buyer’s market in certain areas, with prospects for long-term stabilization, but with immediate affordability difficulties.

As you can see, one must think about tomorrow and save a few nuggets, even if they are only salt to season the feast. These generations tend to live only for the “now,” but the old-fashioned way isn’t a bad idea either — saving a few coins for whatever may come. And what is worth something will always be worth something.

Thank you very much and see you soon,

Cristina DaCosta/MS

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