In Canada, "ground-oriented” housing is 31 per cent more expensive than before the pandemic.
Canada’s Housing Mismatch: Many Canadians prefer ground-oriented homes, but not enough are being built
Non-resident investors owned only 2.5 per cent of all houses in the province.
Toronto plans to overhaul zoning and housing approvals by early this year.
Residents in unsubsidized units will pay more so residents in subsidized units pay less.
A recent report showed that Canada has fewer housing units per capita than any other G7 country.
The program will likely mainly benefit middle- and upper-income households.
In some Canadian cities, housing costs grew more than 50 per cent faster than incomes.
The federal government recently committed $1.37 billion to two major rapid transit projects in Metro Vancouver.