Thousands of young families will sit down at their kitchen tables today pouring over their finances, struggling to figure out how they can achieve what generation after generation before them has done – buy a home.
Help is finally on the way to address Ontario’s housing affordability crisis.
Ontario REALTORS® have been calling for bold action to make home ownership more affordable for over three years. We launched the Keep the Dream Alive campaign generating over 20,000 messages to MPPs before the 2018 election provoking pro-housing policies.
The Ford Government has listened: the Ontario Housing Supply Action Plan will bring the Canadian dream of home ownership within reach for struggling families, millennials and new Canadians.
Ontario REALTORS® put our own ideas on the table and the Housing Supply Action Plan embraces eight of our ten ideas.
Highlights of the Housing Supply Action Plan:
Fostering development next to and above major transit stations. Ontario’s pre-disco, early 1970s era zoning rules just don’t reflect modern consumer demand. These out-of-date zoning rules are standing in the way of millennials, young families and the Canadian dream of home ownership. (Idea 1 in the OREA PLAN)
Speeding up the housing approval process, reducing red tape and controlling development charges. Delays, a heavy regulatory burden and skyrocketing development charges push home ownership further out of reach. In some municipalities, development charges add $125,000 to the price of a home. (Ideas 2, 3 and 8 in the OREA PLAN)
Building more secondary suites. Secondary suites are a great form of housing for an aging grandparent, a young professional or a growing family. By eliminating development charges on secondary suites and reducing red tape on things like parking requirements, Ontarians will have access to this affordable form of housing. (Idea 5 in the OREA PLAN)
Unlocking surplus government lands. Nearly 6,000 government owned properties (Federal, Provincial and Municipal) across the Greater Golden Horseshoe are sitting underutilized. Freeing up even part of this empty land can make a huge difference for affordable housing options for Ontario Families. (Idea 10 in the OREA PLAN)
- Tim Hudak, CEO, OREA