To address skyrocketing home prices, Ontario government could reduce barriers to building

A recent Globe and Mail article highlighted Ontario Premier Kathleen Wynne’s concern regarding Toronto’s skyrocketing house prices. Indeed, the Canadian Real Estate Association reports a 117 per cent increase in home prices across the Greater Toronto Area since January 2005, providing ample cause for concern for potential homebuyers and renters alike.It’s good that Premier Wynne seeks to better understand and address this issue. As her government analyzes potential causes of high home prices and weighs policy response options, the province should carefully consider how existing regulatory red tape influences housing prices. This red tape makes it costlier and more time

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