GTA Homebuilding Slowdown Could Cost 41,000 Jobs, $10B In Investment: Report

The cost of lagging home construction is often measured in supply gaps and future market turns, but a new study from Altus Group for the Building Industry and Land Development Association (BILD) and the Ontario Home Builders' Association (OHBA) highlights the broader impacts of the Greater Toronto Area's (GTA) stalled pipeline, namely sweeping job loss and billions lost in investment.

According to the report, housing starts in the region could fall by more than 60% by 2027 if the necessary changes aren't made to address current obstacles to homebuilding. By 2029, this would look like just 4,000 single-family units and 10,000 apartment units completed in that year, reducing the total volume of construction activity from $6.7 billion to $1.9 billion and from $7.5 billion to $2.6 billion, for each respective unit type.

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