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.
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