Opposition to building more homes faster in Ontario will only worsen affordability
Inadequate housing supply is a primary contributor to unaffordable housing prices and rents
After decades of frustrating inaction, the Ontario government has a plan to quickly build many more homes by setting targets for new construction and proposing far-reaching changes to the governance structure necessary to implement the plan.
Ontario’s plan is not perfect — no plan ever is — but it finally provides a fighting chance of solving the province’s supply woes. The status quo of not building homes is and never was, an option if the goal is for the people to have affordable housing.
The first of Ontario’s two important initiatives is Bill 23, also known as the More Homes Built Faster Act, 2022, which introduces a series of land-use planning changes to cut red tape and sets explicit, non-binding targets for large municipalities to construct new homes.
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Inadequate housing supply is a primary contributor to unaffordable housing prices and rents
After decades of frustrating inaction, the Ontario government has a plan to quickly build many more homes by setting targets for new construction and proposing far-reaching changes to the governance structure necessary to implement the plan.
Ontario’s plan is not perfect — no plan ever is — but it finally provides a fighting chance of solving the province’s supply woes. The status quo of not building homes is and never was, an option if the goal is for the people to have affordable housing.
The first of Ontario’s two important initiatives is Bill 23, also known as the More Homes Built Faster Act, 2022, which introduces a series of land-use planning changes to cut red tape and sets explicit, non-binding targets for large municipalities to construct new homes.
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The other initiative is empowering the mayors of Toronto and Ottawa, the province’s most populous municipalities, to take decisive actions on housing developments without mustering support from a majority of councillors, who often vote to block new developments at the behest of their NIMBY (Not in My Backyard) constituents.
Those who oppose these plans are diverse, but they have a few traits in common. Many are supply skeptics, who pay lip service to the notion that we need more housing, but are unwilling to do much to achieve that goal.
Others are status quo champions who want to “preserve” the spirit of their neighbourhoods, a polite way of saying they want to keep new citizens out of their areas. Then there are the planners, some of whom were taught a Soviet-style central planning system where ad hoc limits are placed on what land can be developed and at what intensity. Most builders and developers fight for years to have these plans and bylaws amended, resulting in delays and inflated prices and rents.
Some believe that empowering mayors disenfranchises local representatives, which is hardly true. Local representatives are free to advocate for their constituents on all matters except blocking new housing construction.
Consider that Toronto Mayor John Tory received more votes from citizens than the sum of all votes received by the elected councillors. Shouldn’t the executive powers be weighted by the support each voting member of the council, including the mayor, received in the municipal election?
Premier Doug Ford ran on the promise to build more housing and voters overwhelmingly supported the Conservative platform by electing 83 of its candidates, more than twice the seats won by all the other parties combined.
If democracy is to be trusted, Ontario voters overwhelmingly endorsed plans for more housing in the provincial election held in June. Empowering NIMBY types and their enablers are hardly advocating for democracy.
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Those who oppose these plans are diverse, but they have a few traits in common. Many are supply skeptics, who pay lip service to the notion that we need more housing, but are unwilling to do much to achieve that goal.
Others are status quo champions who want to “preserve” the spirit of their neighbourhoods, a polite way of saying they want to keep new citizens out of their areas. Then there are the planners, some of whom were taught a Soviet-style central planning system where ad hoc limits are placed on what land can be developed and at what intensity. Most builders and developers fight for years to have these plans and bylaws amended, resulting in delays and inflated prices and rents.
Some believe that empowering mayors disenfranchises local representatives, which is hardly true. Local representatives are free to advocate for their constituents on all matters except blocking new housing construction.
Consider that Toronto Mayor John Tory received more votes from citizens than the sum of all votes received by the elected councillors. Shouldn’t the executive powers be weighted by the support each voting member of the council, including the mayor, received in the municipal election?
Premier Doug Ford ran on the promise to build more housing and voters overwhelmingly supported the Conservative platform by electing 83 of its candidates, more than twice the seats won by all the other parties combined.
If democracy is to be trusted, Ontario voters overwhelmingly endorsed plans for more housing in the provincial election held in June. Empowering NIMBY types and their enablers are hardly advocating for democracy.
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Ontario Housing Market Snapshot for November 2022
Home sales are down 43.8% across Ontario, with 11,017 units sold in November 2022, compared to 19,614 in November 2021.
The average price of homes sold across Ontario in November 2022 was $829,934, down 10% from $921,819 in November 2021.
Real Estate Buyers and Sellers:
We are with you from the beginning to the end with a professional team in selling and buying your dream home.
services rendered:
- Providing loans with the lowest interest rates available in the market ( First, Second, Third Mortgages)
- Free evaluation of your home
- Finding your dream home according to location and budget
- Obtaining complete market information in order to make the right decision when buying or selling a house/condo
- Special services for:
- First Time Home Buyers
- Newcomers
- Buying a house/condo for Investment Property investment
- Renovation services
☎️ Ways to contact us via Phone and Email:
+1 (647) 772-9502
hoizady@yahoo.com
.
Home sales are down 43.8% across Ontario, with 11,017 units sold in November 2022, compared to 19,614 in November 2021.
The average price of homes sold across Ontario in November 2022 was $829,934, down 10% from $921,819 in November 2021.
Real Estate Buyers and Sellers:
We are with you from the beginning to the end with a professional team in selling and buying your dream home.
services rendered:
- Providing loans with the lowest interest rates available in the market ( First, Second, Third Mortgages)
- Free evaluation of your home
- Finding your dream home according to location and budget
- Obtaining complete market information in order to make the right decision when buying or selling a house/condo
- Special services for:
- First Time Home Buyers
- Newcomers
- Buying a house/condo for Investment Property investment
- Renovation services
☎️ Ways to contact us via Phone and Email:
+1 (647) 772-9502
hoizady@yahoo.com
.
Housing Market Snapshot for November 2022
Home sales are down 38.9% across Canada, with 30,135 units sold in November 2022, compared to 49,357 in November 2021.
The average price of homes sold across Canada in November 2022 was $632,802, down 12% from $719,185 in November 2021.
Real Estate Buyers and Sellers:
We are with you from the beginning to the end with a professional team in selling and buying your dream home.
services rendered:
- Providing loans with the lowest interest rates available in the market ( First, Second, Third Mortgages)
- Free evaluation of your home
- Finding your dream home according to location and budget
- Obtaining complete market information in order to make the right decision when buying or selling a house/condo
- Special services for:
- First Time Home Buyers
- Newcomers
- Non-residents
- Buying a house/condo for Investment Property investment
- Renovation services
☎️ Ways to contact us via Phone and Email:
+1 (647) 772-9502
hoizady@yahoo.com
.
Home sales are down 38.9% across Canada, with 30,135 units sold in November 2022, compared to 49,357 in November 2021.
The average price of homes sold across Canada in November 2022 was $632,802, down 12% from $719,185 in November 2021.
Real Estate Buyers and Sellers:
We are with you from the beginning to the end with a professional team in selling and buying your dream home.
services rendered:
- Providing loans with the lowest interest rates available in the market ( First, Second, Third Mortgages)
- Free evaluation of your home
- Finding your dream home according to location and budget
- Obtaining complete market information in order to make the right decision when buying or selling a house/condo
- Special services for:
- First Time Home Buyers
- Newcomers
- Non-residents
- Buying a house/condo for Investment Property investment
- Renovation services
☎️ Ways to contact us via Phone and Email:
+1 (647) 772-9502
hoizady@yahoo.com
.
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Market Watch Infographic-December 2022
Home sales are down 48.2% across Canada, with 3,117 units sold in December 2022, compared to 6,013 in December 2021.
The average price of homes sold across Canada in December 2022 was $1,051,216, down 9.2% from $1,157,837 in December 2021.
Real Estate Buyers and Sellers:
We are with you from the beginning to the end with a professional team in selling and buying your dream home.
services rendered:
- Providing loans with the lowest interest rates available in the market ( First, Second, Third Mortgages)
- Free evaluation of your home
- Finding your dream home according to location and budget
- Obtaining complete market information in order to make the right decision when buying or selling a house/condo
- Special services for:
- First Time Home Buyers
- Newcomers
- Non-residents
- Buying a house/condo for Investment Property investment
- Renovation services
☎️ Ways to contact us via Phone and Email:
+1 (647) 772-9502
hoizady@yahoo.com
.
Home sales are down 48.2% across Canada, with 3,117 units sold in December 2022, compared to 6,013 in December 2021.
The average price of homes sold across Canada in December 2022 was $1,051,216, down 9.2% from $1,157,837 in December 2021.
Real Estate Buyers and Sellers:
We are with you from the beginning to the end with a professional team in selling and buying your dream home.
services rendered:
- Providing loans with the lowest interest rates available in the market ( First, Second, Third Mortgages)
- Free evaluation of your home
- Finding your dream home according to location and budget
- Obtaining complete market information in order to make the right decision when buying or selling a house/condo
- Special services for:
- First Time Home Buyers
- Newcomers
- Non-residents
- Buying a house/condo for Investment Property investment
- Renovation services
☎️ Ways to contact us via Phone and Email:
+1 (647) 772-9502
hoizady@yahoo.com
.
Housing Market Snapshot for December 2022
Home sales are down 39.1% across Canada, with 21,840 units sold in December 2022, compared to 35,860 in December 2021.
The average price of homes sold across Canada in December 2022 was $626,318, down 12% from $711,579 in December 2021.
Real Estate Buyers and Sellers:
We are with you from the beginning to the end with a professional team in selling and buying your dream home.
services rendered:
- Providing loans with the lowest interest rates available in the market ( First, Second, Third Mortgages)
- Free evaluation of your home
- Finding your dream home according to location and budget
- Obtaining complete market information in order to make the right decision when buying or selling a house/condo
- Special services for:
- First Time Home Buyers
- Newcomers
- Non-residents
- Buying a house/condo for Investment Property investment
- Renovation services
☎️ Ways to contact us via Phone and Email:
+1 (647) 772-9502
hoizady@yahoo.com
.
Home sales are down 39.1% across Canada, with 21,840 units sold in December 2022, compared to 35,860 in December 2021.
The average price of homes sold across Canada in December 2022 was $626,318, down 12% from $711,579 in December 2021.
Real Estate Buyers and Sellers:
We are with you from the beginning to the end with a professional team in selling and buying your dream home.
services rendered:
- Providing loans with the lowest interest rates available in the market ( First, Second, Third Mortgages)
- Free evaluation of your home
- Finding your dream home according to location and budget
- Obtaining complete market information in order to make the right decision when buying or selling a house/condo
- Special services for:
- First Time Home Buyers
- Newcomers
- Non-residents
- Buying a house/condo for Investment Property investment
- Renovation services
☎️ Ways to contact us via Phone and Email:
+1 (647) 772-9502
hoizady@yahoo.com
.
Ontario Housing Market Snapshot for December 2022
Home sales are down 41.3% across Ontario, with 7,516 units sold in December 2022, compared to 12,806 in December 2021.
The average price of homes sold across Ontario in December 2022 was $812,388, down 12.2% from $924,755 in December 2021.
Real Estate Buyers and Sellers:
We are with you from the beginning to the end with a professional team in selling and buying your dream home.
services rendered:
- Providing loans with the lowest interest rates available in the market ( First, Second, Third Mortgages)
- Free evaluation of your home
- Finding your dream home according to location and budget
- Obtaining complete market information in order to make the right decision when buying or selling a house/condo
- Special services for:
- First Time Home Buyers
- Newcomers
- Non-residents
- Buying a house/condo for Investment Property investment
- Renovation services
☎️ Ways to contact us via Phone and Email:
+1 (647) 772-9502
hoizady@yahoo.com
.
Home sales are down 41.3% across Ontario, with 7,516 units sold in December 2022, compared to 12,806 in December 2021.
The average price of homes sold across Ontario in December 2022 was $812,388, down 12.2% from $924,755 in December 2021.
Real Estate Buyers and Sellers:
We are with you from the beginning to the end with a professional team in selling and buying your dream home.
services rendered:
- Providing loans with the lowest interest rates available in the market ( First, Second, Third Mortgages)
- Free evaluation of your home
- Finding your dream home according to location and budget
- Obtaining complete market information in order to make the right decision when buying or selling a house/condo
- Special services for:
- First Time Home Buyers
- Newcomers
- Non-residents
- Buying a house/condo for Investment Property investment
- Renovation services
☎️ Ways to contact us via Phone and Email:
+1 (647) 772-9502
hoizady@yahoo.com
.
Market Watch Infographic for January 2023
Home sales are down 44.6% across Canada, with 3,100 units sold in January 2023, compared to 5,594 in January 2022.
The average price of homes sold across Canada in January 2023 was $1,038,668, down 16.4% from $1,242,407 in January 2022.
Real Estate Buyers and Sellers:
We are with you from the beginning to the end with a professional team in selling and buying your dream home.
services rendered:
- Providing loans with the lowest interest rates available in the market ( First, Second, Third Mortgages)
- Free evaluation of your home
- Finding your dream home according to location and budget
- Obtaining complete market information in order to make the right decision when buying or selling a house/condo
- Special services for:
- First Time Home Buyers
- Newcomers
- Non-residents
- Buying a house/condo for Investment Property investment
- Renovation services
☎️ Ways to contact us via Phone and Email:
+1 (647) 772-9502
hoizady@yahoo.com
.
Home sales are down 44.6% across Canada, with 3,100 units sold in January 2023, compared to 5,594 in January 2022.
The average price of homes sold across Canada in January 2023 was $1,038,668, down 16.4% from $1,242,407 in January 2022.
Real Estate Buyers and Sellers:
We are with you from the beginning to the end with a professional team in selling and buying your dream home.
services rendered:
- Providing loans with the lowest interest rates available in the market ( First, Second, Third Mortgages)
- Free evaluation of your home
- Finding your dream home according to location and budget
- Obtaining complete market information in order to make the right decision when buying or selling a house/condo
- Special services for:
- First Time Home Buyers
- Newcomers
- Non-residents
- Buying a house/condo for Investment Property investment
- Renovation services
☎️ Ways to contact us via Phone and Email:
+1 (647) 772-9502
hoizady@yahoo.com
.