Developers says Ontario’s definition of “affordable housing” isn’t realistic

Рет қаралды 9,801

Ай бұрын

Ontario’s plan to get more affordable houses built appears to be falling flat, as developers say the pricing guidelines set by the government aren't realistic and would see them lose hundreds of thousands of dollars.
When the Ford government pledged to build 1.5 million homes this decade, part of the promise was affordable and attainable housing. The province has now defined what “affordable housing” actually means.
The government says an affordable single family detached home in Ontario should be roughly $351,000 on average. If a developer can meet that target, the government believes they should get a discount on development charges.
But the development industry doesn't believe it's realistic. In fact, a recent report pegged the average cost of a detached house in Ontario at $889,000 - 85 per cent higher than the government's affordable goal.
And the development industry says between the cost of the land, taxes, fees and construction costs, a house can cost $1.3 million to build.
Global’s Colin D'Mello explains.
For more info, please go to globalnews.ca/news/10563757/o...
Subscribe to Global News Channel HERE: bit.ly/20fcXDc
Like Global News on Facebook HERE: bit.ly/255GMJQ
Follow Global News on X HERE: bit.ly/1Toz8mt
Follow Global News on Instagram HERE: bit.ly/2QZaZIB
#GlobalNews

Пікірлер: 128

@burnt1ce85 Ай бұрын

This is what ineffective and disappointing government policies looks like

@Michael-pg7rv Ай бұрын

I can't even fathom how upsetting this is that there are over $330K in taxes to build single detached home on average. This is not including the property taxes the home owner will have to pay for life and the fact that the government take anywhere from 30-50% of our paychecks. What a disgusting embarrassment of a system we have built. 25 Years ago my parents bought the current home they live in now for under $300k. Now you would need to pay MORE than that in just TAXES to build it. Sad sad sad sad sad. We need to overhaul everything.

@JessT-vg7ib Ай бұрын

time to chase these greedy developers out of town

@babyjeero123 Ай бұрын

Yes, developers are the bad people…

@peterbutz642 Ай бұрын

This is what happens when you vote Liberal for years no one to blame but Toronto themselves Liberals or NDP aren’t capable of managing hot dog stand

@piku5637 Ай бұрын

Our cats won’t stop talking about this Mao guy.

@peterbutz642 Ай бұрын

Yeah they’re the problem free market is the best way to bring down the cost of housing We need less political involved in housing all they create is red tape and corruption

@alexg9727 Ай бұрын

@@babyjeero123 They are like a parasite lobbying our government. Back after WW2 houses were built not for profit but for people to survive

@pacman3556 Ай бұрын

Who would have thought that our politicians (from all parties and all levels) were out of touch with reality and the common people.

@shauncameron8390 19 күн бұрын

Most common people in Canada own their homes.

@pacman3556 17 күн бұрын

@@shauncameron8390 ok boomer.

@oddlyoaktree Ай бұрын

This is why affordable housing requires public funding and the missing middle. You can't expect private businesses to build out of the kindness in their hearts! They aren't charities. And you can't expect to solve this crisis with single detached homes. We need public housing, and diverse housing configurations (Fouplexes, laneways, mid-rises, and TODs).

@andyanderson3628 22 күн бұрын

And then everyone screams NIMBY.

@r.1599 Ай бұрын

Ontario's a big place. How about _outside_ the GTA, Mr. Sherwood?

@annatar6453 20 күн бұрын

1.5 million new homes in 10 years. Meanwhile bringing in 500k immigrants each year. The math isn’t mathing.

@Harry-kc8jr 14 күн бұрын

200k immigrants per year in Ontario. 1.5 million in the next 10 years in Ontario. 2.51 people in in a home so in 10 years there will be 2 million new comers and 3.765 million people housed. It’s near impossible given the amount if developers and construction workers to build 1.5 though in a decade

@bjorn____ Ай бұрын

I wonder if the influx of new Canadians has anything to with this😂

@ewenchan1239 Ай бұрын

No. This is your capitalism at work. Why build cheaper houses (and less profitable houses) when you can build more expensive, and therefore; ewer, but more profitable houses? This is LITERALLY your capitalism at work.

@bobwoods1302 Ай бұрын

How come they can afford it and you can't?

@andyanderson3628 22 күн бұрын

Who is going to do the jobs that you disdain? Low wage, service, etc? That's immigrants. Because you won't do those jobs.

@snowwhite2709 22 күн бұрын

@@andyanderson3628 from what I've read and heard, the government is supplementing wages to immigrant workers, if it's so, why wouldn't you have what we currently see. Most of those positions held by immigrants, and tons of others born and raised here, saying they can't get jobs, retirees needing to have a PT job, and can't find one.

@ewenchan1239 22 күн бұрын

@@andyanderson3628 "Who is going to do the jobs that you disdain? Low wage, service, etc? That's immigrants. Because you won't do those jobs." 100% agree. We don't STEAL jobs. We work the jobs that other Canadians either don't want to do or think that it's "beneath" them to do (or that they think they're being paid to little for them to be able to do). As low as the wages are for the jobs that Canadians don't want to do, immigrants still manage to find a way to send at least a part of the money that they make, back to their home country. My dad did that for 6 months before I immigrated (when I was 6-and-a-half).

@tommynickels4570 Ай бұрын

These politicians are clueless.

@patientzero291 Ай бұрын

Affordable housing means condos or apartment buildings within major cities throughout all Canadian provinces and territories

@MK44078 Ай бұрын

even those hit 450k

@jmjm1992 Ай бұрын

The Canadian government hasn't done nothing to make housing affordable for Canadians.real estate prices are keep going up and up and up......

@bobwoods1302 Ай бұрын

When did you graduate Trump U.?

@user-uz1si3fu1i Ай бұрын

Congrats on building homes in Canada 🇨🇦

@jeremywilson7164 21 күн бұрын

My city is building a bunch of new apartments all over town. No way am I interested in living in a 2000 a month apartment that isn't protected by rent control.

@phoreal22 Ай бұрын

Move the target, no way can you make a home adorable, make affordable condos. That's more reasonable, unfortunately in the GTA, due to land cost as shown, house ownership is to high of an expectation to make it "affordable"

@andygeng7734 Ай бұрын

Costed 20k to do my townhouse patio pavers today. 😂

@Michael-pg7rv Ай бұрын

We need to do away with the term "affordable housing". If we just loosen then rules and expectations and allow developers to build WHATEVER they want that will make them money, then it will result in more supply. If they are building more supply on the high end then those prices come down and people living in the middle range can move up freeing up supply at the bottom bringing down prices across the board. JUST BUILD! Do we really want to live in a country where 50% of the supply are studio and 1 bedroom apartments??

@mikec3971 Ай бұрын

Nice to see NDP finally admit that housing in Toronto is extraordinarily expensive....now if she will STFU when it comes to landlords and high cost to rent, we can all move on.

@Bakalakalajihad Ай бұрын

This is serfdom with a few extra steps.

@SORab__i 5 күн бұрын

There is need of 10 million by 2030 not 1 million

@MikeyPaper Ай бұрын

Too many east indians here!!

@user-sz8dh3tf5c Ай бұрын

Ford could care less about affordable housing.

@shauncameron8390 19 күн бұрын

Why should he?

@theastuteangler Ай бұрын

"Developers too greedy to build simple, inexpensive homes. Canada proposes first public housing since 1993." that's a better headline.

@shauncameron8390 Ай бұрын

It's not the developers' job to build affordable homes. This is just the government deferring its own responsibility onto others.

@theastuteangler Ай бұрын

@@shauncameron8390 partly true. Bring back public housing.

@kellyhou9594 Ай бұрын

@@theastuteangler No government is stupid enough to do that. It is hard work and if by chance they got it passed (budget and building plan), 4 years had passed. It will be the next person cutting the ribbon not you.

@Jenesaisquoi44 Ай бұрын

But it’s not the Developers - it’s cost of land is in the millions and then it’s massive fees before you even get the ok and years of planning. If you do the math on your own - buy land - pay $30-40k or more to the municipality to develop and then 50k to hydro to bring the line and then 35k to do a small basement … a well is 35k … it’s a fortune to build right now. Then hire trades who are swamped with work.

@zachweyrauch2988 Ай бұрын

@@shauncameron8390the myth of supply and demand implies a supply will grow to meet demand. It's not happening because capitalism is a lie.

@klausr3581 Ай бұрын

sell a few at $350000, new price discovery found for the area.

@TechFollower 24 күн бұрын

Yes true... it's just joke in Canada

@YasirAli-gr3jr Ай бұрын

le taux d'augmentation des coûts du logement devient incontrôlable. Pour garantir que tous les citoyens aient accès à un logement abordable, les législateurs doivent adresser ce problème.

@Aaron-rw3lv Ай бұрын

Doug Ford told me he thought he was doing a good job 😂

@klausr3581 Ай бұрын

100 year land lease. takes land price out of the equation. Affordable homes. New price of homes in Ontario underr $500k

@jccucc 2 күн бұрын

Turn out the lights the party is over!!!

@peterjanjanin9883 21 күн бұрын

The only way houses will become more affordable is if they make them smaller ....

@shauncameron8390 19 күн бұрын

Like in Hong Kong?

@ewenchan1239 Ай бұрын

Your capitalism at work.

@larrymunn5279 Ай бұрын

When I was a kid nations funded national space agencies. Now they are too broke and private corps owned by whimsy billionaire playboys do it. While we complain about how a handful of corps set the price of food and protest to them like they are a democratic government lol. But I guess people still can't tell the diff.

@piku5637 Ай бұрын

Lotta Canadians are still scared of saying the big C word being our problem. People waking up now realizing all our big parties, Tories, libs even the NDP to a lesser extent are corrupt.

@MikeyPaper Ай бұрын

Go live in North Korea if you dont like it.

@tonybaloney8401 Ай бұрын

No, that's mass immigration at work

@WhiteRabbitEventsCanada Ай бұрын

looks like we need that universal basic income so the average income for Ontarians rises from its pitifully low $54k

@shauncameron8390 19 күн бұрын

$54K is not low.

@user-uz1si3fu1i Ай бұрын

Well done Ford and Mota and Trudeau

@SillySongs4Everyone2001 Ай бұрын

When government speak of affordable housing they’re out of touch with reality. Get Trudeau out of office.

@LouiseMakeupArt Ай бұрын

💯

@zachweyrauch2988 Ай бұрын

This was doug Ford.

@Vengeance8888 Ай бұрын

move to cities like sault saint marie and windsor. Dont live in GTA, that's how it has always been. Other poor ppl in the world also can not afford to use this side of the world, is it fair? We are all born in the same world why should they have less rights to land

@dougow Ай бұрын

Development charges for a single family home are something like 50-65 k (ballpark), you're saying government will give them a discount on 50-65 k if they sell a single detached home for 351k ? that is not an incentive AT ALL.

@fretstain Ай бұрын

lol

@chizzymomentum1807 Ай бұрын

Jokers!!!! 👀🤣🤣😂😂😅

@W1thcdoctor1987 Ай бұрын

The term "AFFORDABLE HOME" is an oxymoron - given today's inflation. From a lender's perspective, it is a metric that expands and contracts like a rubber band, in relation to a prospective home buyer's down payment, income and total debt service ratio (TDSR). Politicians should never use the word "affordable" as an adjective.

@dmatheson1342 Ай бұрын

money laundering for sure, why would a developer sell for less than land acquisition and the cost to build?

@Admin-ns7sd Ай бұрын

Canada is really going down 👎👇🤧

@bobwoods1302 Ай бұрын

Why don't you move to Russia?

@lga9046 Ай бұрын

Is any place's definition realistic?

@rafial81 Ай бұрын

Trudeau's definition of everything isn't realistic 😂.

@JessT-vg7ib Ай бұрын

trudeau has definitions?

@snteahou Ай бұрын

how is this trudeau's definition? this is the ontario government, not the federal government

@ewenchan1239 Ай бұрын

What does Ford have to do with Trudeau???

@jsks76905 Ай бұрын

Did you even watch the two minute video? This is the Ontario Ford government

@piku5637 Ай бұрын

Uncle Meow Meow says hello

@shauncameron8390 Ай бұрын

So do the 45 million souls he condemned to starvation.

@cowtippingrocks Ай бұрын

it wasn't that long ago when 350k was the average.

@Observer168 Ай бұрын

That was 20 years ago

@shauncameron8390 Ай бұрын

@@Observer168 And salaries were lower 20 years ago.

@snowwhite2709 22 күн бұрын

@@shauncameron8390when you compare house pricing and wages through the years, wages although lower, have not kept up the pace with the increase in house pricing, or anything.

@badassbombshell5894 Ай бұрын

Real estate isn't causing a housing crisis, poverty & unregulated markets are. Increase support for elderly & disabled, regulate food, communication services and so on. Canada & more so Ontario is fast losing its lustre and looking more and more crooked.

@shauncameron8390 Ай бұрын

There's hardly anything unregulated about the housing market.

@Womba1009 Ай бұрын

67 % capital gains tax, carbon tax, payroll tax, inflation. You take the risk and the stress while the govt tells you things have never been better.

@Jenesaisquoi44 Ай бұрын

yet houses are averaging $129,000 just across the border - water-homes seem to be an option although chilly it’s possible… to be under 200k

@streetchat5054 Ай бұрын

That's why there's 0-30% sliding scale Affordable Decent Housing available Immediately, for those in need Globally (our new human Right We may have to insist).

@JeffreyKLHo Ай бұрын

Just build affordable condos geez

@Observer168 Ай бұрын

It’s impossible to build affordable homes with high cost of land, government development fees, high material costs and expensive labour.

@shauncameron8390 Ай бұрын

@@Observer168 Exactly.

@almontoya5703 Ай бұрын

Just start off by forcing all current foreign owners to park their money somewhere else within 1 year. Make residential properties for Canadians only! Tax 2+ homeowners appropriately to prevent dumb money being made. Make income verification for mortgages using income tax assessment from the CRA only to prevent mortgage fraud. Make homes sold within 3 years have 100% inclusion rate (capital gains tax) unless out of your control. Banned airb&b unless have a registered business license.

@Observer168 Ай бұрын

This is a democratic country.

@almontoya5703 Ай бұрын

@@Observer168 absolutely! That doesn’t mean you can have absolute freedom to do and have whatever you want. We need a system where it’s fair for first time buyers just like they had it until the system broke. We need rules that are fair for Canadians and a strong system that can’t be abused from inside and outside of the country.

@Observer168 Ай бұрын

@@almontoya5703the system is fair, you sell to the highest bidder. Problem is everyone wants to live in Vancouver and Toronto where it’s the most expensive. The only thing unfair is you don’t get to see how much people are bidding and a system to remove fake bids.

@almontoya5703 Ай бұрын

@@Observer168 look around you buddy, all my neighbors are foreigners. In the last 15 years the amount of laundered money injected is staggering. Even the government told the police to do nothing cause guess who benefits? That’s one of the big factors. It’s pushing the FOMO causing artificial pricing. Many will do anything to get into the market even committing fraud.

@pepewr Ай бұрын

✊🏽🇨🇦 Hindus for Pierre 🇨🇦✊🏽

@TBA-zv9qt Ай бұрын

Wonder what will happen when majority of people live on this beautiful land are from INDIA? It will be nice, peaceful and amazing... NOT😂... go CANINDIA!

@WinstonSmith-yw8ou Ай бұрын

it will be just like India. because that’s what happens, demographics are everything.