Ontario Housing Stock-Growth Gap

This is a Ontario news story, published by Global News, that relates primarily to Ford news.

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Global News

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Gap between Ontario housing and population growth highest in 50 years: report | Globalnews.ca

Summary

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73% Informative

The gap between Ontario ’s housing stock and population growth is the widest it has been since records began.

The Ford government has said it needs to meet its self-imposed goal of building 1.5 million new homes by 2031 .

The number of housing starts in Ontario has remained relatively constant, bouncing between around 50,000 and 100,000 per year.

Development fees for homes in and around Toronto make up roughly 25 per cent of the cost of a new home.

Municipalities, which collect the fees, have regularly countered with the phrase: “Growth must pay for growth” Local officials have argued fees are necessary to ensure current residents don’t pay for new housing.

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Informative language

Neutral language

Article tone

formal

Language

English

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Offensive language

not offensive

Hate speech

not hateful