Ontario reduces 2022 new home construction projection to 81,300 due to economic challenges.

Ontario has reduced its new home construction projections, raising concerns about achieving the goal of 1.5 million homes by 2031. Premier Doug Ford's government originally aimed for 125,000 homes this year but now anticipates only 81,300 due to economic challenges, including high interest rates. Despite this, the government is optimistic about meeting the target and has allocated billions for incentives and infrastructure to support construction efforts.