For Immediate Release: May 15, 2018
Statement by Tim Gray, Executive Director of Environmental Defence on C.D. Howe Institute’s flawed report on building regulations and housing supply
Toronto, Ont. — A study released today by the C.D. Howe Institute fails to provide any meaningful analysis to link house prices increases to land supply in Ontario. It has been proven that there is more than enough land to meet housing needs in the province until 2031 without having to develop prime agricultural land or loosen Greenbelt protection.
Recent policy changes – such as taxes on foreign buyers – that focused on speculation have successfully reduced house prices by up to 14 per cent in Ontario. The C.D. Howe Institute’s study recommends further policy changes such as reducing development charges and zoning costs. However, if we reduce development charges, then the costs are passed on to taxpayers instead of being paid by those that benefit from buying the home – developers and homebuyers.
The real solution to the housing supply issue is to build new, diverse housing in existing urban areas, not to pass the development charges on to municipalities or taxpayers.
To find out how building more sustainable communities will save us time and money visit our report, The High Costs of Sprawl here.
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For more information or to arrange an interview, please contact: Stephanie Kohls, Environmental Defence, 416-323-9521 ext. 232; 416-885-7847 (cell); email@example.com