A report by the University of Ottawa’s Missing Middle Initiative for RESCON grades 22 of 34 Greater Golden Horseshoe municipalities as failing in housing starts and sales for early 2025. Housing starts dropped 40% on average, with condo starts down 54% and sales plummeting, notably a 91% sales decline in Toronto. Employment fell by over 24,000 person-years. The report urges government action to reduce taxes and modernize processes to revive the housing industry.