New home sales across Ontario have fallen far below historic norms, with only approximately 15,000 units sold in 2025. Correspondingly, that total construction activity could decline dramatically, from approximately $31.7 billion in 2024 to just $10.4 billion by 2030. At today’s historically low sales levels, the foregone revenue for the province would be approximately $472 million per year. At traditional sales volumes, it would rise to roughly $1.4 billion annually – which is far less than the predicted fiscal consequences outlined above. It is a request to tax housing less so that it becomes more attainable, while ensuring the industry remains viable enough to continue contributing to public coffers.

Source: National Post January 14, 2026 16:10 UTC