TORONTO — Canada’s population is experiencing rapid growth, but housing starts are plummeting, raising concerns for the future of Toronto’s housing market. …In the first four months of 2024, Canada’s working-age population grew by 411,000 people, a 47% increase over the same period last year and nearly quadruple the average growth from 2007 to 2022. This population boom is putting immense pressure on the housing market as the demand for homes rises with the increasing number of residents. Despite the population surge, new home construction starts in Ontario is slowing down, reverting to 2018 levels. Housing starts in April 2024 were down 37%, and experts predict further declines. This slowdown is most pronounced in the condo market, which is expected to see the lowest sales volumes in nearly two decades. …While Toronto’s condo market may face challenges, the low-rise market will likely remain stable due to sustained demand from permanent residents.