This is not a theoretical warning. It is grounded in what the data from the past year is already showing us. New home sales across Ontario have fallen far below historic norms, with only approximately 15,000 units sold in 2025. In traditional years, sales ranged between roughly 65,000 and 85,000 units. The housing sector in the province sustains an industry that supports approximately 225,000 jobs, generates $30 billion in economic activity, and delivers $7.4 billion annually in provincial tax revenues through sales, income, and land transfer taxes – along with roughly $5 billion in municipal development-related fees.