By Pepper Parr
February 6th, 2026
BURLINGTON, ON
The Gazette started the story about the 475 housing units that were taken off the market when the developer realized that the market wasn’t taking up what he had to offer.
Eric Stern expands on what we had to say with his piece in Focus Burlington. See the link below.
With the recent cancellation of a 475-unit condo project on Appleby Line, a correction in the condo market may already be happening.
What are some of the reasons behind this market correction?
The transformation of GTHA’s condo market from housing to an investment vehicle for “mom and pop” investors didn’t happen overnight. The roots lie in policy changes, economic shifts, and the emergence of “pre-construction” condos as an asset people invest in.
You can read the complete artilce by clicking HERE
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Excellent synopsis of the current real estate challenges. The market correction will not be overnight given all the issues and challenges. The Toronto Real Estate Board expects “home price and sales weakness to persist for at least the first half of the year” (2026). Affordability remains an issue as “The average home price in the GTA is over $1 million, nearly nine times the average household income, making homeownership unaffordable for many,”
The City considering eliminating development fees as a measure ‘to save the development industry’ is an overly simplistic reaction to a complex situation. Developers over the years have benefited from many regulatory changes which permitted ‘inboard’ bedrooms to maximize floor space and increase the number of units in a building. As cited in the article, this decision is not proving to be the profitable outcome as originally envisioned. The consequences of that decision should be solely shouldered by the developers who proposed and built them. As has been decided by some developers, they are reconfiguring two of the shoeboxes into one unit that has the potential to actually be a home. However, affordability remains a key issue.