Ontario Housing Plan will help increase affordability in Real Estate

Posted May 15, 2019 07:00

The agency representing the province's builders welcomed a provincial government plan to increase supply in Ontario. The Ontario Residential Construction Council (RESCON) says the Ontario Housing Supply Action Plan opens a path to begin patching the province's shattered housing system and the failed policies of the past . The plan involves a series of legislative changes to increase the supply of affordable housing and provide families with more meaningful options on where to live, work and raise their families. We have heard loud and clear from families in Ontario that finding affordable housing takes too much time and costs too much, said Steve Clark, Minister of Municipal Affairs and Housing. After years of neglect by the previous government, there is now a housing crisis in Ontario and the dream of ownership is beyond the reach of many.Our plan will make it easier to build the right kind of housing in the right places. , since Otarians and their families are more flexible when they look for a home they can afford . He added that the program will help first-time home buyers and those looking for affordable rental housing. The president of RESCON, Richard Lyall, believes that the plan will make a significant difference. Bringing more supply to the market will ultimately help the desperately needed housing and accommodation options, including the missing intermediate zone, and open the broken rental market in the province, he said. Specifically, he says he should: 1. Cut the bureaucracy to facilitate the construction of the right types of housing in the right places. 2. Make housing more affordable through increased supply. 3. Help taxpayers keep more of their dollars earned. The delays, the duplication and the bureaucracy were the drowning of the supply, the increase of the costs and the damage to the young families, added Lyall. The government's Action Plan will make projects more predictable to do business, reduce risks and increase investment and employment. Thinking of investing in real estate? Contact me and I will offer you the best advice and opportunities in the market!     source: www.canadianrealestatemagazine.ca