housing construction

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National economy relies heavily on Toronto and Vancouver housing markets

B.C. has seen relatively low levels of capital investment in productivity-enhancing assets.

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In Vancouver, it takes almost two years, on average, to obtain a building permit.

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Long and uncertain building permit approval timelines make it more difficult to build in cities like Toronto.

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Cities such as Vancouver and Toronto, with longer and less certain approval timelines, tended to see less growth in housing stock.

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It’s impossible to achieve housing affordability unless the supply of new homes keeps up with demand.

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If taxing foreign buyers affects demand for homes in some cities, where might that demand migrate to?