DEL DUCA: Three phrases to resolve the housing disaster: Construct, construct, construct

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Article content material There’s no two methods about it: Ontario is in a housing affordability disaster. Article content material Simply ask any guardian in the event that they suppose their child might afford to purchase a house within the neighbourhood the place they grew up. Speak to empty-nesters making an attempt to downsize. Speak to anybody making an attempt to purchase their first residence — the blind bidding competitions, gross sales going for six figures above asking, down fee financial savings that by no means develop as quick because the market. It’s a determined state of affairs. We apologize, however this video has didn’t load. Housing affordability is not only a Toronto drawback. It’s not only a metropolis drawback. It’s our drawback. So what are we going to do about it? The answer to giving extra Ontario households the prospect to purchase a house is straightforward: construct extra houses. Construct much more houses. If it have been as much as me and the Ontario Liberals, we’d double the tempo of homebuilding, we’d make speculators pay for sitting on land the place houses might be constructed, we’d ban new non-resident possession and blind bidding, and we might give municipalities extra energy to get extra houses constructed. And we are going to tax these homes that sit empty — as a result of it’s excessive time we put speculators on discover. Homes are usually not funding autos. They’re for households. If your own home is sitting empty, anticipate to pay extra tax to maintain it empty — much more.

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