B.C.’s NDP government plans to spend at least $6.6 billion over 10 years on social housing.
Instead of ‘affordable housing’ for some, the B.C. government should target housing affordability for all
Both New York and London are more than twice as dense as Toronto.
In Toronto the approvals process costs nearly $47,000 per housing unit (on average), compared to $21,000 in Hamilton.
Toronto, Vancouver and other high-demand cities should focus on getting more housing built, at a quicker pace.
City hall should shorten approval timelines for building permits.
Recently 1,000 units initially intended for the rental market have been converted into condo units.
To reduce the cost of housing in Vancouver, more units must be built.
If selling condos is more lucrative, that’s what property developers will do.
Once prices aren’t allowed to increase to meet demand, people face strong disincentives to build new units.