Peter Munk Centre for Free Enterprise Education
Ontario’s housing plan limits rent increases to 1.5 per cent annually.
Without the OMB as a scapegoat, councillors must now make tough decisions themselves.
Toronto, Vancouver and other high-demand cities should focus on getting more housing built, at a quicker pace.
In 2011, average rents were just over $1,000—in 2016, they jumped to $1,242.
Recently 1,000 units initially intended for the rental market have been converted into condo units.
Between 2000 and 2016, average mortgage interest rates fell by almost two-thirds.
In the Greater Golden Horseshoe, per-unit building costs to comply with regulation amount to nearly $50,000.
Business investment in Ontario is $50.9 billion this year, down from $53.8 billion before the recession.