In this episode of The Last Honest Realtor, David Fleming sits down with special guest Ben Rabidoux—economist, housing analyst, and founder of Edge Realty Analytics—to expose the harsh truths behind Toronto’s condo market and the broader economic forces reshaping Canadian real estate.
This isn’t fear-mongering. It’s a data-backed dissection of a market facing systemic risk. From blanket appraisals and stalled closings to investor denial and government intervention, this is Canada’s “Big Short” moment—happening in real time.
If you’re a buyer, seller, developer, or policymaker: this is essential viewing.
In This Episode:
- Why Toronto’s pre-construction condo model was always destined to fail
- How banks are quietly pushing risky lending practices through blanket appraisals
- What the BoC, Carney, and tariff politics really mean for housing policy
- Why resale data hides the true structural issues in housing supply
- How investor pullback and stalled development set the stage for a crunch in 2028
- What policymakers can’t (or won’t) fix—and what that means for future buyers
- Why no one wants to admit that sentiment—not just interest rates—is the real problem
Timestamps:
00:00 – Why Ben Rabidoux is this show’s version of a celebrity
03:00 – How tariffs and political games are shaping the macroeconomic outlook
10:00 – The coming housing crunch: not “if,” but “when”
18:00 – The condo crisis and Canada’s very own Big Short
26:00 – RBC’s blanket appraisals and the risk to the banking system
34:00 – Government bailouts, false optimism, and systemic denial
44:00 – What happens when 76% of buyers can’t close?
50:00 – Predictions for 2025 and beyond
If you’ve been waiting for someone to explain what’s actually going on—without spin, slogans, or sales tactics—this is the conversation you’ve been looking for.
Subscribe, comment, and share this episode with someone who still thinks “real estate only goes up.”
