Ontario housing reform needs six key fixes, RESCON says
Ontario housing costs at a generational breaking point
The ownership pipeline is weakening precisely when it needs to strengthen. A recent analysis by Desjardins economist Kari Norman found rental construction reached roughly 130,000 starts over the past year, while condominium starts fell below 50,000 units, a level not recorded since the global financial crisis.
Elevated construction costs, financing pressures, and government fees have made many condo projects financially unviable at current selling prices.
Taxes, fees, and government-imposed charges now represent approximately 36% of the cost of a new home in Ontario, according to RESCON research.
Development charges (DCs) in Toronto alone have increased by more than 5,000% over the past 25 years, adding tens of thousands — and in many cases well over $100,000 — to the cost of a new build.
Read more: Ontario budget’s housing tax relief draws cautious applause from mortgage and real estate leaders
