has been identified as particularly vulnerable to tariffs. <\/a><\/p>\nHousing starts down compared to last year<\/p>\n
Brent Klundert, president of the Windsor-Essex Home Builders Association, said financial institutions are being cautious. <\/p>\n
“Across the board in Ontario, things are definitely tightening on the residential side when it comes to financial institutions,” said Klundert.<\/p>\n
Earlier this year, Windsor celebrated hitting the province’s housing target with more than 2,157 unit started in 2024.<\/p>\n
That number includes apartment units, townhouses, detached and semi-detached homes.<\/p>\n
But starts this year have fallen drastically, with data from the Canada Mortgage and Housing Corporation showing 871 units started as of September this year.<\/p>\n
That’s down from 1,729 units across the same period last year. <\/p>\n
“We’re noticing financial institutions, because of uncertainty in the market, things really tightening up,” said Klundert. <\/p>\n
Money flowing, but calculations getting tighter<\/p>\n
Max De Angelis, who has led the development of large scale residential, industrial and commercial projects as president of Fortis Construction Group, said he’s in a cautious spot. <\/p>\n
“As a guy who has, potentially in the pipeline, between $150 to $250 million of real estate deals in our own pipeline, you have to be very, you know, cautious of when you go and where you’re going,” he said. <\/p>\n
The chaotic confusion caused by Trump’s tariff threats compared to his actual orders is making it difficult for organizations like Fortis to do the calculations on big deals.<\/p>\n
“We can’t control inflation, we can’t control interest rates, we can’t control COVID and God almighty, we can’t control Trump and the tariff rhetoric,” he said. <\/p>\n
But, he said, that doesn’t mean they can’t get done. <\/p>\n
“The flow of money has not necessarily stopped if you can stencil a deal that work economically and you can backstop that deal,” he said.<\/p>\n
“You have to be much more of an astute businessman today, or a businessperson today, to get things to work.”<\/p>\n","protected":false},"excerpt":{"rendered":"Listen to this article Estimated 3 minutes The audio version of this article is generated by text-to-speech, a…\n","protected":false},"author":2,"featured_media":288906,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[45,49,48,46],"class_list":{"0":"post-288905","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-ca","10":"tag-canada","11":"tag-economy"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/288905","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=288905"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/288905\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/288906"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=288905"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=288905"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=288905"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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<\/p>\n