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More collaborative approach needed to address what ails the office and residential sectors

Balancing the risks of office and multifamily markets could help stabilize the economy
Portland Commons, a 577,000-square-foot office building at 530 Front St. W, was completed in 2024 and remains entirely vacant and available. (Ben Haythornwaite/CoStar)
Portland Commons, a 577,000-square-foot office building at 530 Front St. W, was completed in 2024 and remains entirely vacant and available. (Ben Haythornwaite/CoStar)

Canada's various real estate markets are facing myriad crises. Office landlords are reckoning with the erosion of net operating incomes, condo developers are sitting on landbanks unable to get development financing, ringing alarm bells for future unemployment in the construction industry, and the country faces the lurking threat of a tariff war with its biggest trading partner.

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