Canada’s housing market is entering a major shift. In this episode, Mike Moffatt sits down with Vancouver realtor and Loonie Hour host Steve Saretsky to break down the growing cracks in Canada’s real estate market — from falling condo prices and rising vacancy rates to investor selloffs, rent control, and the political fallout surrounding B.C.’s controversial Cowichan land title ruling. They also compare the housing markets in Vancouver, Toronto, and Calgary, and discuss what’s next for affordability, development, immigration-driven demand, and the future of housing policy in Canada.

Topics covered:
• The Cowichan land title ruling and B.C. real estate uncertainty
• Vancouver vs. Toronto housing market slowdown
• Falling condo prices and investor selloffs
• Rising vacancy rates and declining rents
• The collapse of Canada’s condo pre-sale market
• Purpose-built rentals and developer pullback
• B.C.’s rent control policies
• Calgary’s zoning and density debate
• Immigration, population growth, and housing demand
• The future of housing affordability in Canada

Chapters:

0:00 Canada’s Housing Market Is Shifting Fast
1:12 Introducing Steve Saretsky & B.C. Housing Challenges
2:18 The Cowichan Land Title Ruling Explained
5:20 Why Banks and Buyers Are Nervous About B.C. Real Estate
8:14 Political Fallout in British Columbia
11:02 Vancouver’s Housing Market Slowdown
13:40 Condo Investors Are Exiting the Market
16:28 Rising Vacancy Rates & Falling Rents
19:11 The Collapse of Canada’s Pre-Construction Condo Market
22:05 Why Developers Are Pulling Back on New Projects
24:37 B.C. Rent Control and Its Market Impact
27:02 Calgary’s Zoning Backlash and Density Debate
30:01 Immigration, Rental Demand & Housing Pressure
32:18 The Future of Family-Friendly Housing in Canada
33:40 Final Thoughts on Canada’s Housing Future

Research links:

The Cowichan ruling isn’t a threat to private property

https://policyoptions.irpp.org/2025/12/cowichan-land-ruling-explained/

To recognize aboriginal title is not to abolish property rights, but to uphold them

https://www.theglobeandmail.com/opinion/article-cowichan-aboriginal-first-nation-indigenous-property-rights/

What the Musqueam rights recognition agreement means and what it doesn’t

https://www.cbc.ca/news/canada/british-columbia/musqueam-rights-recognition-agreement-explained-9.7128504

Real-estate firm bulk buys $30 million of downtown Toronto condos: ‘They’re sitting empty’

https://www.thestar.com/real-estate/real-estate-firm-bulk-buys-30-million-of-downtown-toronto-condos-theyre-sitting-empty/article_899ba81b-b385-43ad-9370-86178d487187.html

Hosted by Mike Moffatt & Cara Stern & Sabrina Maddeaux

Produced by Meredith Martin

Funded by the Neptis Foundation https://neptis.org/