Home Truths about Housing Unaffordabllity
All four levels of government In Canada are guilty of making housing affordability worse by adding taxes, fees and regulatory "red tape" costs that just get passed on to buyers and renters, hidden in purchase prices or rents. About one-third of the cost to buy or rent a new home in some Canadian cities is related to governments and growing.
That's hundreds of thousands of dollars per home! The Globe & Mail calls the fees cities impose on builders "the biggest tax that you've never heard of" and suggests they be disclosed transparently like sales taxes on receipts. We agree!
Fewer Homes Being Built
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The result of these growing costs? Fewer homes are being built as people can't afford to buy or rent them. Toronto now has the lowest number of new housing being constructed in 30 years. Other major metro cities, like Vancouver, have also flatlined with construction crews we need being laid off and 73,000 approved homes not going ahead.
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In the Financial Post, Canada Mortgage & Housing (CMHC) Deputy Chief Economist Tania Bourassa-Ochoa called for change on the growing burdens of high fees and costly, time-consuming government approval processes. What CMHC failed to admit is they too hiked mortgage insurance premium costs that will get passed on.
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All of these government costs are worsening housing affordability but increasing the size and salaries of government bureaucracies.
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Hollywood gets tax credits as incentives to film here. Shouldn't housing get similar tax relief? These solutions work!
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Take action by sending a letter to as many as four levels of government in charge of housing in major cities across Canada. Your letter will go to: the Right Honourable Prime Minister, federal Ministers, Premiers & Provincial Housing Ministers in each province, Mayors and Councils in major cities and regional governments in Canada.
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Tell them to stop using homes as bank machines.
Follow Brampton's idea: lowering its $100,000 apartment construction fee.
Don't let another generation be shut out of affordable home ownership or rental apartments.
Use our easy form below to make your voice heard.
