Toronto needs housing. So why do condo projects keep getting cancelled?

Rental prices in major cities like Toronto have been dropping over the last several months.

At the corner of High Park Ave. and Annette St., a church slated to be transformed into condominiums has been sitting partially complete for several years. The stalled High Park development is just one example of a number of condo projects throughout Toronto that have been cancelled or entered receivership, and the number is expected to grow.