Story perspectives

Canada-U.S. Trade Dispute Hits Ontario Housing Market Hard

3/24/2025

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Summary

Story summary

The Canada-U.S. trade dispute is impacting B.C.'s housing market, though economist Andrew Lis finds tariffs have little effect on home sales.
Ontario's housing starts fell by 16% in 2024, with numerous projects canceled due to rising costs.
Tariffs are likely to increase construction material costs, exacerbating Ontario's housing crisis.
Builders encounter higher development charges and permitting delays, complicating housing supply efforts.
While tariffs may temporarily harm residential construction, they could also enhance Canada's economic resilience.

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Story summary

The Canada-U.S. trade dispute is impacting B.C.'s housing market, though economist Andrew Lis finds tariffs have little effect on home sales.
Ontario's housing starts fell by 16% in 2024, with numerous projects canceled due to rising costs.
Tariffs are likely to increase construction material costs, exacerbating Ontario's housing crisis.
Builders encounter higher development charges and permitting delays, complicating housing supply efforts.
While tariffs may temporarily harm residential construction, they could also enhance Canada's economic resilience.