"The province is projecting just 64,800 housing starts this year, 10,000 fewer than it expected for this year in last year's budget and 30,000 fewer than the 2024 plan projected."
"Finance Minister Peter Bethlenfalvy last year referred to 1.5 million homes as a soft target, one of the first signals that the government was backing away from the goal it frequently touted in 2022."
"I don't wake up thinking about 1.5 [million], I worry about getting homes built in the next two, three months."
"The government announced a temporarily expanded HST rebate on new homes in its budget and it hopes the measure spurs 8,000 new units."
Ontario's housing start projections for this year have been reduced to 64,800, falling short of previous estimates. The government initially aimed for 1.5 million homes by 2031, requiring 175,000 starts annually. However, officials now consider this target a soft goal. Municipal Affairs and Housing Minister Rob Flack emphasized immediate concerns over affordability rather than long-term targets. The budget includes a temporary HST rebate to encourage new housing units, but builders are also advocating for reduced development fees to stimulate the sector.
Read at www.cbc.ca
Unable to calculate read time
Collection
[
|
...
]