High housing costs are a barrier to job creators – Minister Todd Smith

Canadian housing sales have recovered. Image DepositPhoto.com
Image DepositPhoto.com

THUNDER BAY – “In communities all across Ontario, people are struggling to find housing they can afford,” said Steve Clark, Minister of Municipal Affairs and Housing. “We’re taking action to help create more housing faster, give people more choice and bring down housing costs.”

Ontario is knocking down barriers to people getting housing they can afford that meets their needs, through:

  • Legislation that would make new rental units exempt from rent control, effective November 15, 2018, while preserving rent increase limits for existing tenants;
  • Ending the previous government’s expensive and ineffective Development Charges Rebate Program;
  • Seeking public input on ways the government can remove barriers to building the right kind of housing in the right places. This input will inform a broader housing supply action plan. The consultation includes a downloadable toolkit so community groups can host local roundtables and share their thoughts with the province.

The demand for housing in Ontario has risen rapidly in recent years, driven by strong population growth and low interest rates. However, the supply of housing has not kept pace, leading to higher prices and rents.

Building more housing will also help make Ontario more attractive to businesses and investors, restoring the province to its rightful place as the economic engine of Canada.

High housing costs are a barrier to job creators, large and small because employees need affordable places to live,” said Todd Smith, Minister of Economic Development, Job Creation and Trade. “Making housing more affordable will encourage people to start and grow businesses, right here at home.”

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