Housing in Canada is unaffordable due to the high cost of regulations and a lack of access to developable land. Read more here.
“Any difference between the cost of supply and the market price, especially over a decade’s worth of data, is likely due to persistent restrictions on access to new land,” Benjamin Dachis, the report’s author, said.
Of Canada’s three tiers of government, the federal and some provincial governments have finally figured out that housing supplies have lagged demand over the past few decades. In particular, Canada Mortgage and Housing Corp. and the Ontario government have acknowledged that millions of more homes need to be built in addition to the units produced under business-as-usual scenarios.Article content
The essential missing leg in the housing supply tripod is the municipal governments that control access to developable land through land use planning. C.D. Howe said the excessive regulatory burdens imposed by municipal governments add hundreds of thousands of dollars to housing prices. The report also proposes to replace upfront development charges, which can run into hundreds of thousands of dollars per new dwelling unit, with user fees for some infrastructure services, such as water supply and sanitation. Another proposal is to change some per-unit development charges to land-value charges — for example, Ontario’s Community Benefit Charge — so that builders are not deterred from adding “additional units that are even marginally economical.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Why does Canada have a disproportionately high number of Chinese diplomats?As former governor general David Johnston prepares to release his report on foreign interference Tuesday, new data provided by Global Affairs Canada sheds light on the breadth of China's diplomatic presence.
Read more »
CANADA: Hot and dry conditions persist as wildfires rage through Western CanadaMore than 19,470 people have been forced out of their homes, with Swan Hills, northeast of Edmonton, the latest community to order an evacuation Tuesday
Read more »
CANADA: Hot and dry conditions persist as wildfires rage through Western CanadaMore than 19,470 people have been forced out of their homes, with Swan Hills, northeast of Edmonton, the latest community to order an evacuation Tuesday
Read more »
Waffle makers recalled in Canada and the U.S. after users suffer burnsA waffle maker appliance sold online in Canada is being recalled after 34 burn injuries were reported by consumers in the U.S., said Health Canada.
Read more »
Anti-regime activists in Canada accuse Cuba of using YouTube channel to intimidate them | CBC NewsThirteen Montrealers say they've been targeted by a campaign of harassment launched by the Cuban government to keep them from protesting against one-party rule on the island.
Read more »
‘Looking for Canada’: RCMP’s Musical Ride steeped in tradition as force turns 150Mounties say the ride is a symbol of tradition, honour and pride where officers can build relationships with communities.
Read more »