Ontario’s housing minister is hailing the federal budget as a big help in easing the affordability crisis that has seen home prices soaring out of reach for many people.
“will build upon the success of what the premier and I announced in January,” Clark added in reference to a $45-million effort to streamline development approvals.
Of the $10.2 billion, just under $9 billion will go to building affordable homes. It is forecast to spark the construction of 100,000 homes by 2027. “There are no ‘temporary’ solutions to the housing crisis,” he said in a statement, noting that Ontario is expanding its non-resident “speculation tax” for buyers of homes to deter flipping, which can drive prices higher.
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