Canada Housing Outlook Flags Condo Oversupply

Canada’s central bank kept overnight rates near 2%, while its current outlook shifted focus toward housing’s expected drag on 2026 activity and growth.
Housing is forecast to trim real GDP growth by 0.1 points in 2026, a ↓0.3-point revision from Early-Q1, largest among domestic components.
Planning focus now: stretched affordability, slower population growth, weak investor interest, and small-condo inventory overhang expected to restrain major-centre construction going forward.