Ontario is in a housing affordability crisis, and we need bold action to save the dream of home ownership for future generations. The Government of Ontario’s newly announced More Homes Built Faster Act, 2022 is just what the doctor ordered when it comes to getting more homes for families built faster right across the Province.
Today, the Ontario Real Estate Association (OREA) is pleased to see the Ford Government acting on several REALTOR®-led supply solutions. We need more homes built that hard-working Ontarians can afford – and we need them now. These steps will get them built:
The over 50 actions in the More Homes Built Faster Act (MHBFA) will go a long way to reversing declining rates of home ownership in Ontario. But more can and should be done. Most of the homes built thanks to the MHBFA will take years to build. Families need help now.
Ontario should give first-time home buyers immediate relief by eliminating the punishing land transfer tax for first-time buyers, or increasing the existing rebate. This tax adds thousands of dollars to a young buyer’s closing costs and increasing the rebate would help hundreds of struggling families today.
- Tim Hudak, CEO of the Ontario Real Estate Association
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Ontario Real Estate Association
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