Homebuyers and homeowners struggle with ‘obscenely’ high building costs

The cost of building homes and apartment complexes across 11 major Canadian cities was up 54 per cent in the first three months of 2023 compared with the same period in 2019, according to Statistics Canada data released last month.

The increases are especially striking in Toronto, with costs up around 85 per cent for single-detached houses and town homes, and 64 per cent for apartment buildings.