AI news brief
Tariffs dampen CMHC forecast, Toronto’s population shrinks, the Home of the Week and more top real estate stories
Globe and Mail - Business - 2026-07-24
AI Summary
New tariffs are expected to dampen housing starts in Canada, with CMHC forecasting a decline in new home construction over the next two years. Toronto's population has shrunk for the first time outside of the pandemic, largely due to housing unaffordability, leading to falling rental rates and a correction in house prices. In British Columbia, developers are suing pre-sale buyers who are backing out of contracts due to falling property values.
Key takeaways
- CMHC forecasts a drop in Canadian housing starts due to new tariffs.
- Toronto's population is shrinking, driven by housing unaffordability.
- B.C. developers are suing pre-sale buyers who breach contracts.
What this could mean for homebuyers
Mortgage news can affect fixed rates, variable-rate expectations, affordability, and buyer timing. Use this article as context, then compare today's rates or ask the AI Mortgage Advisor how it applies to your situation.