“Buy condos, because we’re not making any more of them.” It’s a line I often find myself repeating, especially these days. Walking through Metro Vancouver, you can see it happening in real time: projects that once would have broken ground as condos are instead being built as rentals. On paper, it looks like progress. But for the average Canadian hoping to one day own, it means fewer opportunities to step onto the property ladder.
Keep in mind that for your clients, the slowdown isn’t just about construction cranes. It’s about mood. The economy feels uncertain, confidence is shaky, and fewer people want to put money down on real estate when they’re unsure about the future. Add to that the string of anti-investment policies, from the foreign buyer ban to restrictions on small landlords, and suddenly owning real estate feels out of reach, or worse, unpopular.
But here’s the thing: markets always move in cycles, and without demand there's no supply.
The market will shift again.
This downturn isn’t permanent. Sooner or later, policies shift, confidence returns and people come back to the market. By then, though, we’ll be staring at a serious supply gap. The homes not being built today are the completions missing tomorrow. Industry data shows that by 2027 or 2028, the number of new homes hitting the market will fall sharply. As an agent, that’s why making it clear to your clients that acting now isn’t just about FOMO, but also good business sense, is a smart strategy.
When immigration ramps up again – which it must because without it Canada simply doesn’t grow – we’ll face the same story we’ve seen before: too many people chasing too few homes.
That’s why I believe now may actually be the best time to buy. While rental supply is important, homeownership is still a cornerstone for Canadians. It’s not just about having a roof over your head. It’s about building stability, creating wealth and giving the next generation a stronger starting point. Helping your clients understand this point won’t just help your business succeed, it will provide them with genuine satisfaction and peace of mind in the years ahead.
Economics 101 is simple: markets are built on supply and demand. When demand once again outpaces supply, as it inevitably will, those who bought during this downturn will be glad they did. Those who waited will already know how that story ends.
