RESCON: Lack of affordable homes is only part of the problem

In the Greater Toronto and Hamilton Area, six-figure earners like nurses and teachers struggle to afford homes, causing a $7.5-billion annual GDP loss. High construction costs and taxes drive rents beyond affordability, leading to population decline and job losses in construction. Housing supply falls short of targets, pushing prices higher. Solutions include lowering taxes on new homes, cutting development charges, and speeding up approval processes to make housing more affordable.