The record-breaking pace of condo construction in Toronto won't last — and when development does slow down, it's going to make a dent in the Canadian economy, an economist says. The Toronto condo boom is hard to ignore. But Stephen Brown, senior Canada economist for Capital Economics, an economic-research firm, suggests slowing new home sales will limit future construction in the country's biggest city. "This process means that residential investment in Toronto will fall," he adds. Demand is holding upAt least for now, competition for affordable homes among millennials, international migrants, and downsizing baby boomers is spurring residential investment, according to a recent BMO note.

Source: Huffington Post May 04, 2019 18:56 UTC