More than a dozen real estate sector stakeholders from across Ontario spoke about solutions to the housing crisis on Thursday, touching on themes like tax reform and the importance of public infrastructure.on Thursday.
“Right now, we’re wasting everybody’s time, and quite frankly, the housing crisis is not going to get solved where we are today or anything that’s been proposed. We’re nibbling at the edges,” said Bray. The current system in place in Toronto, where infrastructure is funded entirely by property taxes, means that the city is limited with respect to investments in things like transit.
In order to “promote sustainable economic growth” across Ontario, Smetanin said the federal government needs to “address imbalances” brought on by rampant population growth and ambitious immigration targets. “Our tax system works against building the kinds of housing forms that we need, against building communities that help low-income renters, against our environment goals,” said Moffatt.
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