Housing starts increased 16 per cent in July compared with June, to a seasonally adjusted annual rate of 245,604www.theglobeandmail.com
If coronavirus doesn't pop this bubble, nothing will, I guess.
Housing starts are usually for contracts that were signed 18+ months to years ago.
Although the developers have P&SA, they only get deposits held in trust.
The developers will want to start & complete the project ASAP to get the full funds, and hope we don't enter into recession where the buyer or builder could end up in default.
Currently, I see a divergence with products and prices.
Condo values have lost at least 10+% and rents have dropped 10-15% from 2019.
Freehold properties have gone up 10+%.