Toronto condo sales collapse highlights Ford’s housing failure

TORONTO – Ontario NDP Shadow Minister for Housing Catherine McKenney (Ottawa Centre) released the following statement in response to warnings from homebuilders that new condo sales in Toronto have collapsed by 90 per cent compared to the 10-year average:

“Only 118 condos sold in Toronto last month. The homebuilders' association is sounding the alarm, that this is a housing drought. And it is happening in the middle of a housing crisis where people can’t find or afford a place to live.

“These numbers confirm what people already see around them: the private market on its own will not build the homes we need. If housing only gets built when it sells for over a million dollars, then Ontarians lose twice… no homes they can afford and no jobs to build them.

“Ontario needs a government that will step in and deliver. That means building non-profit and co-op housing, bringing back real rent control, and taking the affordability crisis seriously. Doug Ford’s hands-off approach has failed.

“New Democrats will keep fighting for a housing plan that puts people first and makes sure everyone has a safe, affordable place to call home.”