Davidoff said builders can respond quickly if they sense larger changes in the market. “If there was a crash, you’d see projects, even zoned projects, not (take out building) permits,” Davidoff said. Developers will probably slow down land purchases and rezoning activities first, he added.
The story also appeared in The Province.
Davidoff also spoke to Yahoo about the impact of the foreign buyer tax and said it’s having its intended impact of discouraging foreign buyers.
In an interview with Canadian Real Estate Magazine, Davidoff noted that the housing market is facing “very significant headwinds.”