Banks are boosting financing to condo developers even as the number of unsold units in Canada’s largest city reached a 21-year high in January. There are about 1,600 unsold units on the market following a record number of completions in January, according to a report from Sal Guatieri, senior economist at Bank of Montreal.
This is a click-bait headline that I would expect from Buzzfeed, not The Financial Post. If you look at the graph, vacancy rates have dropped and this is really a non-story.