Regulatory red tape is resulting in fewer new homes than there otherwise would be with a growing pool of buyers, contributing to rising prices.
Restricting Greater Toronto’s housing supply has consequences beyond the initial impacts on housing affordability.
Like most taxes, the land-transfer tax does more than transfer money from homebuyers to the government—it stifles economic activity and makes moving less attractive.
City council recently voted unanimously to support a 20-year plan aimed at reducing poverty in Toronto—a laudable initiative if council avoids enacting policies that may do more harm than good.
Ontario cities like Brampton and Milton rank better than most of their peers in terms of regulation—and share some of Canada’s largest jumps in population.
Kathleen Wynne, the new Premier of Ontario, recently stated her willingness to consider implementing new methods to raise revenue to help fund expansion of public transit. Furthermore, the 2013 Ontario Budget presented by Minister of Finance Charles Sousa Thursday, specifically indicates that the Province is committing to convert select high-occupancy vehicle (HOV) lanes in the Greater Toronto Hamilton Area (GTHA) into high-occupancy toll (HOT) lanes as a potential option in this regard. A plan on the conversion is to be brought forward by the end of the year.