"Sales Have Stopped": Ontario Developers Warn of Impending Layoffs
In a stark warning to the Ontario housing market, developers are sounding the alarm over a significant decline in home sales that could jeopardize tens of thousands of jobs in the construction sector. The Building Industry and Land Development Association (BILD) has emphasized the urgent need for government intervention as both new builds and home sales plummet.
This year, the numbers speak for themselves. Sales of single-family homes in the Greater Toronto Area have plummeted by a staggering 50 percent, while condominium sales have nose-dived by 65 percent, stark indicators of a market in distress. The slowdown in demand has created a ripple effect, pushing developers to reconsider their strategies and plans for construction, which could lead to widespread layoffs if conditions do not improve.
Amid these troubling trends, the conversation about government assistance is gaining momentum. However, insights from Global’s Colin D’Mello suggest that any potential government help may not be directed specifically toward companies in the sector. Instead, focus might shift to supporting homebuyers, raising questions about the efficacy of such measures for the industry as a whole.
As the construction industry braces for a challenging period, the urgent call for action from developers serves not only as a plea for survival but also as a reflection of the broader economic implications of a slowing housing market in Ontario. Without prompt and effective government response, the outlook for the industry—and its workers—looks increasingly precarious.
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Video ““Sales have stopped”: Ontario developers predict layoffs if build costs don't fall” was uploaded on 06/24/2025 to Youtube Channel Global News