Ontario housing plan will help affordability, rental market

Ontario housing plan will help affordability, rental market

A provincial government plan to boost supply in Ontario has been welcomed by the body representing the province’s builders.

The Residential Construction Council of Ontario (RESCON) says that the Ontario Housing Supply Action Plan paves a pathway to start patching up the province’s “shattered housing system and failed policies of the past.”

The plan involves a suite of legislative changes to increase the supply of housing that is affordable and provide families with more meaningful choices on where to live, work and raise their families.

“We’ve heard loud and clear from families across Ontario that finding housing that is affordable takes too long and costs too much,” said Steve Clark, Minister of Municipal Affairs and Housing. “After years of neglect by the former government, there is now a housing crisis in Ontario and the dream of ownership is out of reach for too many. Our plan will make it easier to build the right type of homes in the right places, giving Ontarians and their families more flexibility when looking for a home they can afford.”

He added that the program will help first-time homebuyers and those seeking affordable rental homes.

RESCON president Richard Lyall believes the plan will make a significant difference.

“Bringing more supply to the market will ultimately help desperately needed affordability and housing choices, including the missing middle. It will also open up the province’s broken rental market,” he said.

Specifically, he says it should:

1. Cut red tape to make it easier to build the right types of housing in the right places.
2. Make housing more affordable through increased supply.
3. Help taxpayers keep more of their hard-earned dollars.

“Delays, duplication and red tape were choking supply, raising costs and hurting young families,” added Lyall. “The government’s Action Plan will make projects more predictable to do business, lower risk, and increase investment and jobs.”

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