BMO Says Housing Prices Could Plunge — 800,000 Jobs at Risk

The Canadian housing market is facing a major correction. 40–50% of construction jobs are at risk as home prices remain high while sales lag. Rising delinquencies, long-term unemployment at a 27-year high, and job losses are worsening affordability. Buyers and sellers are misaligned, leading to steep losses on homes, even in wealthy areas. The imploding bubble shows the economy and housing are deeply interconnected.