Bought pre-con for $1M in 2021.
Put $200K down.
Market value today? $700K.Can’t close.
Can’t reassign.
Deposit gone.Builder may sue for the difference.
Toronto’s condo crash just entered the consequences phase. pic.twitter.com/PVWK0yY6s7
— Shazi (@ShaziGoalie) February 10, 2026
New condo sales in the Greater Toronto Hamilton Area fell to their lowest level since 1991 with record project cancellations, showing demand has collapsed and future supply is shrinking.
Toronto real estate prices are down sharply (about 27% from peak) and inventory has reached record highs, signaling deeper weakness in the housing market.
https://betterdwelling.com/toronto-real-estate-crash-prices-down-27-inventory-hits-a-new-high/