Buyer Defaults & More Greenbelt Drama

😵 Toronto Developers Sue Over Failed Deals​

• Developers CentreCourt and Mod Developments have filed nearly 130 lawsuits against Toronto condo buyers who failed to close on pre-construction units.​

• Investors who deposited 10% on studios priced over $800,000 are being sued for damages exceeding their deposits.​

• Appraisals have fallen 10% to 30% below original purchase prices, leading to significant financing gaps for buyers.

• Buyers unable to secure mortgages due to higher interest rates and lower appraisals face lawsuits and forfeiture of deposit

Why This Matters: Record completions in 2024 and 2025 flood the market, further depressing prices.​ Many so-called investors were speculators banking on assignment flips, not long-term ownership or financing capacity. The assumption that "real estate always goes up" collided headfirst with higher interest rates and an oversupplied market

🧑🏽‍🎓 Canada Sees Student Visas Fall 46 Percent

• Canada saw 29,300 new study permit applications in January 2025, down 46% from January 2024.

• The federal government planned a 10% cut, but the drop is nearly 5x that.

• 2024 Canada processed 580,200 new applications — down 33% from 2023.

• Applications are still high, but the pace of decline is much sharper than expected.

• The drop reflects both policy tightening and global economic pressures.

Why This Matters: The sharp drop in study permit applications shows that international students are turning away from Canada faster than expected. This could hit university revenues, rental demand, and housing markets in student-heavy cities. The decline also signals broader economic and immigration shifts that could ripple across sectors.

🏗️ Worst February Ever for GTA Builders