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This month's roundtable digs into a shifting housing market narrative—one where the spotlight is quietly moving away from pre-construction condos and toward a surge in multiplex development across Canada. Fueled by highly leveraged, government-backed financing through Canada Mortgage and Housing Corporation programs like MLI Select, multiplex projects are emerging as the new "pre-con"—offering attractive returns on paper, but carrying real risks if rents, costs, or timelines don't hold. We unpack why this boom is happening now, who's building, and whether this model is sustainable—or just the latest cycle of risk masked by easy credit.

At the same time, cracks are forming beneath the surface. Mortgage arrears are rising across Canada, a signal that higher interest rates and affordability pressures are starting to bite. We connect this trend to broader financial conditions, including rising bond yields, and what that means for borrowers, investors, and housing demand in both Toronto and Vancouver. While home sales remain subdued in both markets, the underlying story is increasingly about financial stress and shifting incentives—not just supply and demand.

This episode dives into some of the biggest questions buyers and sellers are asking right now—from whether it makes sense to jump into pre-construction with the new HST rebate, to the growing debate over whether that policy is really helping buyers or quietly supporting builders. We unpack the risks of trying to time the market in an uncertain economic environment, and how to think about pricing, incentives, and long-term value when conditions are shifting.

We also discuss what's actually happening on the ground in today's market, including whether underpricing strategies still work for sellers and how much leverage buyers really have right now. The goal is to cut through the noise and give practical insight into how to navigate a market that feels increasingly unpredictable.