The End of Free Money in the Condo Market
Sync or Swim: The Multifamily Growth Show
Release Date: 05/05/2025
The End of Free Money in the Condo Market
Sync or Swim: The Multifamily Growth Show
Why are condo investors pulling out, and what does it mean for Canada’s housing market? On this episode of Sync or Swim, Steve Saretsky, founder of Saretsky Group and co-host of The Loonie Hour podcast, joins the show to break down the shifting economics behind new housing. Steve explains why pre-construction condo sales have collapsed, how rising rates and falling rents are squeezing investors, and why developers are increasingly pivoting to purpose-built rentals. He also touches on issues like blanket appraisals, distressed buyers, and the long municipal approval timelines holding back...
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Tariffs, Interest Rates, and Canada’s Rental Market
Sync or Swim: The Multifamily Growth Show
Tariffs, Interest Rates, and Canada’s Rental Market In real estate, time is money, and at a time when tariffs are ever-changing, the housing and rental market are even more unpredictable than usual! Today on the Sync or Swim Podcast, we are joined by Tu Nguyen, an economist at RSM Canada, to discuss the recent tariff changes, interest rates, and the Canadian housing market. Tuning in, you’ll hear about how the new US tariffs are going to affect housing development and rent, how Canadian policy and market shifts can lessen the consequences of these tariff changes, how they will...
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Purpose-Built Rental Trends in the GTA
Sync or Swim: The Multifamily Growth Show
Is the GTA housing market oversupplied or just misunderstood? In this episode of Sync or Swim, host Max Steinman takes a deep dive into the purpose-built rental market with industry leaders Chrystal LeBlanc (BGO), Michelle Calloway (Fitzrovia), and Todd Spencer (Park Property Inc.). Together, they explore how their organizations are responding to shifting renter preferences, navigating condo oversupply challenges, and redefining the rental experience in the Greater Toronto Area. Tune in for expert advice on navigating Toronto's rental market, practical strategies for adapting to evolving...
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What CMHC's 2024 Fall Report Means for Canada's Rental Market
Sync or Swim: The Multifamily Growth Show
The Canada Mortgage and Housing Corporation (CMHC) has recently released its annual rental market report, and today, we sit down with its Deputy Chief Economist, Tania Bourassa-Ochoa to discuss what the report means for the future of housing in Canada. We begin with the work of CMHC and who its target market is before diving into its 2024 rental market report. Then, we unpack the recent rise of housing supply, how Montreal is a step ahead, why the number of multifamily units is beginning to match that of studio apartments, and how rent control measures may influence tenant behaviour and...
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Is Toronto Building Enough? Brad Bradford on Housing Supply
Sync or Swim: The Multifamily Growth Show
For most listeners of the show, the housing crisis is a very prominent issue; affecting careers and finances. But it is actually a much bigger conversation for the entire population of the city. Today, we are bringing you a very special episode of the Sync or Swim Podcast: a live recorded interview with Brad Bradford from the Toronto Roadshow! Tuning in, you’ll hear about Brad’s assessment of Toronto’s housing supply, the affordable housing crisis, the problems with old housing policies, and more! We delve into the political nature of housing in Toronto before discussing how to create a...
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Using AI to Predict the Future Cost of Rent
Sync or Swim: The Multifamily Growth Show
Imagine paying $5,600 a month in rent in Toronto by 2032. In this episode, Giacomo Ladas hosts Erkan Yönder, Associate Professor at Concordia’s John Molson School of Business, to unpack this projection and its far-reaching impacts. Using advanced AI models, Erkan’s recent study forecasts steep rental increases in Canada’s largest cities, driven by immigration, high demand, and supply constraints. Surprisingly, even a growing supply hasn’t eased rents due to overwhelming demand, creating an unsustainable market. Erkan and Giacomo explore...
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Inside the Market: A Conversation with Tom Storey
Sync or Swim: The Multifamily Growth Show
The housing market in Canada has done some very surprising things since 2020 and today on the Sync or Swim Podcast, Tom Storey joins us to share his thoughts on the market and tell us all about his podcast, the Tom Storey Show. Tuning in, you’ll hear all about Tom’s career, why he decided to start the Tom Storey Show, how condo prices have changed pre-COVID, why the rise in purpose-built rentals is only going to continue, and so much more! Tom stresses the importance of being educated on the rent-control date and what it means for landlords before telling us that renting in the short term...
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Enhancing Transparency in the Canadian Rental Market
Sync or Swim: The Multifamily Growth Show
Canada’s rental crisis is often oversimplified as a mere supply and demand issue. However, for today’s guest, Weiting Bollu, it became deeply personal after losing over $35,000 to delinquent tenants and navigating Ontario’s complex rental compliance laws. Her experiences led her to recognize the critical need for a transparent and cohesive rental ecosystem that rewards responsible behavior, essential for building a fair and sustainable rental market. Drawing on her extensive background in software product management across various sectors including education, telecommunications,...
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Unpacking the Truths and Myths of the Rental Market's Hottest Takes
Sync or Swim: The Multifamily Growth Show
Ever questioned the validity of the hot takes on Canada’s rental market? Then be sure to join us on this episode of the Sync or Swim podcast, as we dive into an open conversation and unpack the truths and myths of the rental market’s hottest takes. We are excited to have two incredible guests on the show, Max Steinman, the CEO at Rentsync & Rentals.ca, and Jenna Chick, the Director of Leasing at Fitzrovia. Together, we break down several hot takes prevalent in the Canadian rental market, including renting as a simple waste of money, Canada’s perceived low vacancy rates,...
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A Deep Dive into the Quebec Rental Market
Sync or Swim: The Multifamily Growth Show
Quebec is a unique area in Canada with distinct differences in culture that set it apart from other regions. Naturally, the rental market reflects these differences. Today on the Sync or Swim podcast, we are joined by Rentsync’s very own Quebec rental expert, Hudson Bytautas to take a deep dive into the Quebec rental market. Tuning in, you’ll hear about Hudson’s career journey, some surprising facts and trends in the Quebec rental market, how region-specific trends impact the market, key differences between the rental market in Quebec and other regions, and so much more! We delve into...
info_outlineWhy are condo investors pulling out, and what does it mean for Canada’s housing market? On this episode of Sync or Swim, Steve Saretsky, founder of Saretsky Group and co-host of The Loonie Hour podcast, joins the show to break down the shifting economics behind new housing. Steve explains why pre-construction condo sales have collapsed, how rising rates and falling rents are squeezing investors, and why developers are increasingly pivoting to purpose-built rentals. He also touches on issues like blanket appraisals, distressed buyers, and the long municipal approval timelines holding back supply. From policy missteps to structural market changes, Steve offers a clear-eyed look at where Canadian housing is headed and what needs to change to make new housing viable again. Tune in for a grounded, insider perspective on one of the country’s most pressing economic challenges. Thanks for listening!
Key Points From This Episode:
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Introducing today’s guest, Steve Saretsky, founder of Saretsky Group.
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Why the pre-construction condo market is collapsing.
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How rising rates and falling rents are squeezing investor margins.
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The risks of flipping assignments in a down market.
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Why some developers are renegotiating with distressed buyers.
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The growing use of blanket appraisals and the risks they pose.
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Why developers are shifting from condos to purpose-built rentals.
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How smaller investors are struggling to compete with bigger developers.
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The shift from a speculation-driven model to a more value-driven model.
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Challenges to meeting Canada’s housing targets by 2030.
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The impact of red tape and fees on housing supply timelines.
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Why city governments may be forced to lower development charges.
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Predictions regarding the Bank of Canada, rate policies, and mortgage options.
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Steve’s take on policymaker mistakes and housing speculation.
Quotes:
“The investor market and the new construction market is in a world of pain.” — @SteveSaretsky [0:04:33]
“The more mom-and-pop investor types [who] don’t have the deep pockets. It's harder for them to navigate [a difficult market] than it is for these big developers.” — @SteveSaretsky [0:17:45]
“We're going back to a market where builders/developers are having to serve the market. And the market today is end users. And end users are looking for more space, ground-oriented. And that's what's happening.” — @SteveSaretsky [0:20:01]
“I think cities are going to be forced, and we’re starting to see it, to actually cut their development fees and charges if they want to get new housing off the ground.” — @SteveSaretsky [0:23:21]
“If you're a developer with deeper pockets today, this is certainly a good environment for [you] to go and pick up some distressed land sites. And if you've got a long enough time horizon, there will be another bull market. I don't think it's in the next 12 months. It is further out.” — @SteveSaretsky [0:28:03]
“What the federal government can and should be doing is they should be running good policy to ensure that you've got a healthy labor market that is seeing a lot of productivity and higher wages. And that will help people afford housing.” — @SteveSaretsky [0:34:38]
Links Mentioned in Today’s Episode: