32 Toronto Condo Towers Just Got Cancelled | 7000 Units Erased From 2030 Supply

32 Toronto Condo Towers Just Got Cancelled | 7000 Units Erased From 2030 Supply
Friends, thank you for being here today.
Since the start of 2024, 32 condo projects representing 6,981 units have been officially cancelled in the Greater Toronto Area. Q3 2025 alone saw a record 10 projects (2,500 units) wiped out—the highest cancellation rate in history.
This isn't a delay. This is a building strike.
In this video, I break down:

Why developers are cancelling projects even after taking deposits
The cost-to-build crisis: $1,300/sqft to build vs $1,100/sqft buyers can afford
How 30% of construction costs are government fees and taxes
The "Supply Air Gap" that guarantees housing shortages through 2030
Why housing starts have dropped 88% below the 10-year average
What happened to the 314 buyers of "The One" tower at Yonge & Bloor
Why resale condos are now trading below replacement cost
The binary choice facing buyers right now

This is a structural break in the housing supply chain. The buildings that were supposed to open in 2030 are being cancelled today. And by the time most people realize what's happening, it will be too late to prepare.
The supply air gap is opening right now. The question is which side of it you'll be on.

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