An 86% finished condo project just hit receivership

An almost finished building just became a receivership file.   EverHome, a 131 unit condo project in Markham, was placed in receivership on October 14. Construction stood at 86% complete, and 103 of the units were already pre-sold.   The numbers explain the outcome. Meridian is owed about $57.7M, wi

Toronto vacancy heads under 3%. Windsor's is rising

Ontario's rental map is splitting in two, and CMHC's own forecast draws the line.   Toronto purpose-built rental vacancy is forecast to fall to 2.9%, the only major Ontario city back under 3%. Toronto two bedroom rents are forecast to rise about 8% between 2026 and 2028, the fastest growth in the pr

Affordable rentals: 3% vacant. Luxury: 15% vacant

One vacancy number is hiding two opposite markets.   CoStar puts national multifamily vacancy at 4.75%. Underneath that average, affordable and workforce units are running near 3% vacancy, while high end product sits near 15%.   That spread is the risk map. Workforce tenants renew, stay longer, and

GTHA investors bulk-bought new condos at about 40% off

GTHA new condo sales doubled YoY in Q3 to 760 (Urbanation). Bulk buyers took 339 units, 45% of sales, at $763 psf, about 40% below original prices. Standing inventory 5,127, down 7% QoQ but up 40% YoY.