housing

Friday August 12, 2022

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Friday August 12, 2022

Cooler market helps housing consumers

You may have noticed the house around the corner with the For Sale sign planted on its lawn.

You may have noticed that the house didn’t sell in its first week on the market. Or week two. Three weeks have now passed, and there it still sits. Is it just because it’s summer? Or is it something else? It’s something else.

January 27, 2022

The correction in the housing market has arrived, as the latest numbers released by various housing groups show. The slowdown is more rapid and dramatic than most predicted. Days on the market are growing; active listings are up.

The most recent housing market forecast from the Royal Bank is predicting a national slump in resales outpacing previous peak-to-trough declines, as the bank phrases it, comparing its predictions of what lies ahead to, say, 1981-’82, or 2008-’09.

As the slowdown in the national housing market gained momentum last month, the average selling price of a home touched $665,850 — a decline of almost 20 per cent since February. Average selling prices have declined each month since February 2022, and are down by 1.8 per cent compared to what they were a year ago.

Thursday May 28, 2022

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Thursday May 28, 2022

All parties fall short on housing crisis

December 1, 2021

When it comes to tackling the crisis of housing affordability in Ontario, pretty much everyone agrees on what must be done: build a lot more houses.

The trouble is, none of the parties asking for your vote on June 2 have a convincing plan to achieve the ambitious goals they’ve set out.

We got our hopes up earlier this year when a task force appointed by the Ford government produced an admirably clear and compact report on how to tackle the issue of supply lagging behind demand.

The panel put its finger on a key reason for the problem: the fact that municipalities typically put most of their land off-limits for anything but single-family homes.

So in too many communities, you can’t build duplexes or small apartment buildings, the so-called “missing middle” that would make cities denser by allowing a lot more units to be built.

But that would mean leaning heavily on municipalities whose councils usually speak for existing homeowners — the ones who want to preserve the “neighbourhood character” of their cities by keeping things just as they are. It’s called “exclusionary zoning.”

April 2, 2020

It was no big surprise, therefore, that when the Ford government produced a housing plan in March it conspicuously failed to address this issue head-on.

The plan made no mention of the ambitious goal the task force set out: building 1.5 million new housing units over the next decade. And it had nothing to say about exclusionary zoning.

At least the municipal affairs minister was frank about why he didn’t follow through with the task force’s key recommendation: he didn’t want to upset towns and cities. “They’re just not there yet,” he said.

He may be right. But we need to get there given how serious the national housing crisis is. Canada has the lowest average housing supply per capita among G7 nations, with 424 units per 1,000 people. That’s behind the United States and the United Kingdom. France, by comparison, leads the G7 at 540 units per 1,000. The pandemic, which allowed households to accrue record savings and saw unprecedented stimulus measures, stoked the country’s hot housing market and pushed it into utterly unaffordable territory.

August 26, 2021

Voters who want to make up their minds based at least partly on which party would best tackle the crisis of housing affordability will find more to chew on in the platforms put forward by the New Democrats, Liberals and Greens. But, on this same crucial point, the opposition parties also fall short.

On the positive side, both the NDP and Liberals include the goal of building 1.5 million new homes over the next 10 years. But that won’t be achievable unless cities allow denser housing across much more of their area; the time is long gone when just building endless suburbs on empty land could be justified.

The opposition parties actually have quite a bit to say about exclusionary zoning. They clearly recognize that it’s a problem. But when it comes to actually acting on this, they’re awfully vague.

The NDP’s housing platform promises to end exclusionary zoning. How? It says it would “work with municipalities to reform land-use planning rules.” The Liberals say almost the same. They would “work with municipalities to expand zoning options.”

July 13, 2016

Clearly, none of the parties want to anger municipalities or residents who already own single-family homes in low-rise, low density neighbourhoods. It’s understandable politically, but it puts a big question mark over whether they’d be able to meet their big targets for new homebuilding.

There’s much more to housing policy, of course. The opposition parties promise to build a lot more affordable housing for those completely shut out of the market. And there’s a big difference in what they would do for renters.

The Liberals would reinstitute rent control for units built after 2018 (the PC government excluded them). The NDP would go much further and bring in rent control for all units, even if a tenant voluntarily moves.

But the key to loosening up the housing market is more houses. And right now none of the parties are really stepping up. (Hamilton Spectator Editorial) 

 

Saturday April 9, 2022

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Saturday April 9, 2022

What Toronto wanted in the federal budget for housing — and what it got

April 7, 2017

One of the central pieces of the federal budget unveiled Thursday was affordable housing — $10 billion earmarked to tackle the crisis country-wide.

It’s a mix of funding for projects and policy changes aimed at making housing more affordable.

So what was Toronto looking for and what did it get?  And what will the budget mean for one of the least affordable cities in the country?

Much of the $10-billion investment focuses on boosting the supply of homes, something that is key for Toronto. 

February 1, 2017

The city was eyeing an extension of funding for a project it’s partnered on with the federal government: the Rapid Housing Initiative (RHI).

That wish was granted. The budget proposes to extend the program, which creates new affordable rental housing for marginalized people experiencing, or at risk of, homelessness, at a cost of $1.5 billion over two years.

May 7, 2014

The largest portion of the $10-billion budget pledge is $4 billion dedicated to what the government is calling a “Housing Accelerator Fund.” The money will be for municipalities like Toronto to speed up housing development by slashing red tape, and the federal government estimates it can create 100,000 new units over five years.

When it comes to speeding up development, Bailão says the city has projects on the go for which they’d like to partner financially with the Canada Mortgage and Housing Corporation (CMHC) — mainly its Housing Now initiative, which activates city-owned sites for the development of affordable housing within mixed-income, mixed-use, transit-oriented communities.

November 20, 2019

“I think all orders of government need to work together because if they really want to build 100,000 units … we have 15,000 here in the pipeline that need their financing and we need to make sure that financing is there,” said Bailão.

The question among many advocates is how quickly some of these measures can be implemented in big cities like Toronto, and how much coordination there can be between different levels of government.

“For this city, what’s needed is significant amounts of money and funding that can be spent quickly,” said Matti Siemiatycki, director of the Infrastructure Institute and a professor of geography and planning at the University of Toronto.

“We’re in this crisis. We need all hands on deck, and we need that real coordination and we need a sense of urgency to back it up.” (CBC) 

 

Wednesday December 1, 2021

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Wednesday December 1, 2021

Why Doug Ford is pushing Ontario’s cities to speed up housing construction

December 11, 2018

Premier Doug Ford and his government want Ontario municipalities to approve new home construction projects more quickly, claiming that delays in approvals are driving up the cost of housing.

Building more homes faster is the central topic of the housing summit that Ford will hold next month with the mayors of Ontario’s 29 biggest cities and the chairs of urban regional municipalities. 

In recent weeks, Ford has repeatedly cited the pace of municipal construction approvals as a barrier to making housing more affordable.   

May 13, 2010

The price of buying a home is soaring pretty much everywhere in Ontario, not just the Toronto and Ottawa areas. What’s far from clear is how much delays in municipal permit approvals contribute to those skyrocketing home prices.  

“We’ve got to start cutting the permit times down big time and start getting houses built as quickly as possible,” Ford said during a news conference in Orillia in response to a question about unscrupulous landlords. 

The province will soon start “scoring” cities and towns on how quickly it takes to issue permits, Ford said.

“Believe it or not, folks, sometimes when [developers] apply for a permit, it can take four to six years. Where in North America does it take four to six years?”. 

Ford said the vast majority of cities in Ontario are slow to approve projects. “It’s just like going on a carousel, they loop you around, loop you around, and guess who’s paying? The people are paying, the developer’s not paying.”

December 10, 2020

Ford’s Minister of Municipal Affairs and Housing, Steve Clark, is also blaming municipal bottlenecks for pushing up the price of homes.

“We know that there are delays, particularly at the municipal level, caused by duplication and red tape that are obstructing new homes from being built, which is shutting out Ontarians and their families from realizing their dream of home ownership,” Clark said to a virtual meeting of the Empire Club of Canada on Thursday.  

“It takes too long to get shovels in the ground as part of the development process,” Clark said during the question and answer session following his speech.

The Ford government has focused on boosting the supply of new homes as its fundamental solution to housing affordability. To achieve that goal, the government is trying to pave the way for new construction to happen more quickly. (CBC) 

 

Thursday August 26, 2021

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Thursday August 26, 2021

Trudeau promises new incentives worth billions and a tax on ‘flipping’ to help Canadians buy a home

Liberal Leader Justin Trudeau today promised a suite of new measures to help Canadians buy a home at a time when a red-hot housing market has made owning property seem like a distant dream for many young people.

April 7, 2017

Speaking to reporters in Hamilton, Trudeau said the real estate market is afflicted by “instability” and “uncertainty” and a COVID-fuelled spike has led to soaring prices, bidding wars, rampant speculation and too many vacant properties. He said the situation demands government intervention to help more people acquire their own homes.

The aggressive plan — billions of dollars in new funding, measures to curb the practice of “flipping” homes, efforts to block foreign nationals from buying homes for two years and new regulatory measures to police exploitative real estate agents — comes at a time when Canadians are telling pollsters that housing is one of the issues they care about most.

September 12, 2019

The three-point program includes commitments to “unlock home ownership” through new government funding, a plan to build more homes to address supply constraints and measures to establish and protect new rights for buyers.

“If you work hard, if you save, that dream of having your own place should be in reach. But for too many people, it just isn’t — and that’s not right,” Trudeau said.

“You shouldn’t have to move far away from your job or school or family to afford your rent. You shouldn’t lose a bidding war on your home to speculators. It’s time for things to change.” 

If the Liberals are re-elected on Sept. 20, Trudeau said, he would introduce a first home savings account which would allow Canadians up to age 40 to save $40,000 toward their first home and withdraw it tax-free when it comes time to buy. Money added to the account would go in tax-free and could be withdrawn without any taxes owing on possible investment gains.

May 7, 2014

He said a Liberal government would double the first-time home buyers tax credit from $5,000 to $10,000 — an incentive that would help with the many closing costs that come with buying property.

“Let’s remember, in 2017, as we launched that national housing strategy, we were starting from a standing start because for the previous ten years a Conservative government decided the federal government had no role to play in housing. That’s wrong,” Trudeau said. “But absolutely, there is more to do — much more to do.”

Trudeau took a swipe at Conservative Leader Erin O’Toole’s housing plan, which commits to building one million new homes over three years while easing mortgage requirements and making more federal land available for development.

May 8, 2008

Speaking to reporters in Ottawa, O’Toole said he won’t take lessons from Trudeau on housing.

“Mr. Trudeau’s had six years and he’s failed. The housing crisis has exploded in the last three, four years under his leadership,” O’Toole said. “After six years of inaction, more hollow words today is not what Canadians deserve. They deserve a plan.”

NDP Leader Jagmeet Singh was equally critical, saying the situation has only gotten worse in the last six years under Trudeau.

Federal Election 2021

“Housing has become more expensive. Renting has become more expensive. We can’t handle another four years of this,” Singh said at a campaign stop in Mississauga, Ont., where he announced a plan to nationalize Revera, the country’s largest for-profit long-term care home operator.(CBC)