Housing study misses the mark
RE: DEVELOPMENT FEES DRIVING HOUSING PRICES: REPORT, MAY 15, THE CANADIAN PRESS
House prices dropped in the Greater Toronto Area in 2018, and studies have shown there is more than enough land available in the region to meet our housing needs, yet the Greenbelt continues to be under attack.
The most recent hit comes in the form of a study released by the C.D. Howe Institute which uses out-of-date data and only examines the cost of building new singlefamily homes, not apartments or midrises. Ironically, the study finds the development cost of building a new single-family house is $168,000 in the GTA and about $644,000 in Vancouver, where there is no greenbelt.
The study recommends passing the high costs of building sprawling subdivisions on farmland onto municipalities via development charges. But the real opportunity lies in building more diverse housing options, like small homes and rentals in existing urban areas; not by passing the cost of expensive infrastructure onto municipalities and their taxpayers.
Susan Lloyd Swail
Senior program manager,