OTTAWA—Canada’s home ownership crisis is likely to worsen over the next few years as proposed project sales languish at historically low levels, stalling the funding needed for construction, half a dozen economists and realtors told Reuters.
The sale of these proposed projects, comprising an array of one- or two-bedroom condominiums in major hubs like Toronto, is commonly called pre-construction sales, and a bulk of these properties are usually bought by investors to rent out.
