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

Подписаться 4,3 млн

Просмотров 9 тыс.

50% 1

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

Опубликовано:

12 июн 2024

Ссылка:

Скачать:

Готовим ссылку...

Добавить в:

Мой плейлист

Посмотреть позже

Комментарии : 128

@burnt1ce85 15 дней назад

This is what ineffective and disappointing government policies looks like

@Michael-pg7rv 10 дней назад

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.

@pacman3556 15 дней назад

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

@JessT-vg7ib 15 дней назад

time to chase these greedy developers out of town

@babyjeero123 15 дней назад

Yes, developers are the bad people…

@peterbutz642 15 дней назад

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 15 дней назад

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

@peterbutz642 15 дней назад

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 15 дней назад

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

@Brinn-yw4dy 15 дней назад

If I buy land, I can build a house on it for less than $350,000. Individuals can do what developers can't. Empower individuals to build their own homes. Their house will fit to their budget.

@Eric69-jp1dl 15 дней назад

Every facet of this government is completely out of touch with the average Canadian and Canadian family.

@oddlyoaktree 15 дней назад

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).

@bjorn____ 15 дней назад

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

@ewenchan1239 15 дней назад

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.

@jasonday4658 15 дней назад

😂 exactly

@bobwoods1302 6 дней назад

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

@patientzero291 15 дней назад

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

@MK44078 15 дней назад

even those hit 450k

@r.1599 15 дней назад

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

@jmjm1992 14 дней назад

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 6 дней назад

When did you graduate Trump U.?

@mikec3971 8 дней назад

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.

@tommynickels4570 14 дней назад

These politicians are clueless.

@phoreal22 15 дней назад

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"

@Bakalakalajihad 9 часов назад

This is serfdom with a few extra steps.

@user-sz8dh3tf5c 14 дней назад

Ford could care less about affordable housing.

@JaneEvg 15 дней назад

In the second largest country in the world with vast amount of forest and all other building materials one can imagine this crisis is man made!!!

@ddrache12 15 дней назад

The real problem is land value. As shown in that chart. The land alone is worth 480k for a detached home. Ontario needs to use government owned land. If cities in Alberta can force farmers into deals there must be a way to acquire land to deal with housing prices. But end of the day, just don't live in the GTA. It's a free country, and you don't have a right to cheap and affordable housing wherever you want. Every single person in Canada would much rather live the only warm zone in all of Canada.

@larrymunn5279 15 дней назад

Yea Iranian generals get to retire here with a nice fat bank account but the locals we have to put in pity shelters. They would cost more to scrape up off the sidewalk.

@larrymunn5279 15 дней назад

@@ddrache12 Which is not BC? sure lol

@Observer168 15 дней назад

Second largest country in the world but everyone only wants to live in Vancouver or Toronto.

@shauncameron8390 15 дней назад

The real problem is that people only want to live in the GTA and Lower Mainland, homes of the highest living costs in the country.

@YasirAli-gr3jr 11 дней назад

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.

@andygeng7734 15 дней назад

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

@Michael-pg7rv 10 дней назад

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??

@theastuteangler 15 дней назад

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

@shauncameron8390 15 дней назад

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

@theastuteangler 15 дней назад

@@shauncameron8390 partly true. Bring back public housing.

@kellyhou9594 15 дней назад

@@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 15 дней назад

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 15 дней назад

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

@Generic321 5 дней назад

I only make $38/hr I will never be able to afford a house in my lifetime in Atlantic Canada. I don't understand how in the hell the rest of the country can justify multi generational mortgages. It now takes 25 to 30 years just to save up the down payment... no thanks.

@baits9301 День назад

Not just in Canada , same as in Australia . Mass migration and taxes . They want to squeeze people into small apartments , or tiny home lots .

@user-uz1si3fu1i 12 дней назад

Congrats on building homes in Canada 🇨🇦

@nulwalker8665 15 дней назад

Tradesman are expensive, I guess the government forgot trade guys have to drive A LOT, and gas prices are killing us.

@Funk1880 15 дней назад

Gas is literally 1.50 that’s not even expensive stop crying

@nulwalker8665 15 дней назад

Pay up then.

@grandmufftwerkin9037 15 дней назад

@@Funk1880 Please fill up my car.

@bobwoods1302 6 дней назад

Gas is actually cheap compared to other things.

@SillySongs4Everyone2001 15 дней назад

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

@LouiseMakeupArt 15 дней назад

💯

@zachweyrauch2988 15 дней назад

This was doug Ford.

@josephsmith594 15 дней назад

You didn’t even watch the video did you. Just dropped by to say his name.

@user-uz1si3fu1i 12 дней назад

Well done Ford and Mota and Trudeau

@Vengeance8888 15 дней назад

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

@klausr3581 15 дней назад

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

@ewenchan1239 15 дней назад

Your capitalism at work.

@larrymunn5279 15 дней назад

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.

@nulwalker8665 15 дней назад

Well, if you want to pay a higher tax to subsidize my wage then you aren’t thinking objectively. My boss would love it if you payed half my wage for him.

@piku5637 15 дней назад

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 13 дней назад

Go live in North Korea if you dont like it.

@tonybaloney8401 11 дней назад

No, that's mass immigration at work

@josephsmith594 15 дней назад

Wow, look at the land portion, it’s half the price of the home. It looks like that’s the opportunity area, release some crown land at a 75% discount, or as they suggested at the end, free. Then we’ll have 400K houses beside people who have 800K mortgages and houses that are suddenly worth 400K…

@Aaron-rw3lv 15 дней назад

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

@klausr3581 15 дней назад

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

@Admin-ns7sd 14 дней назад

Canada is really going down 👎👇🤧

@bobwoods1302 6 дней назад

Why don't you move to Russia?

@badassbombshell5894 15 дней назад

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 15 дней назад

There's hardly anything unregulated about the housing market.

@W1thcdoctor1987 15 дней назад

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.

@Womba1009 15 дней назад

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.

@MikeyPaper 13 дней назад

Too many east indians here!!

@dmatheson1342 15 дней назад

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

@dougow 15 дней назад

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.

@chizzymomentum1807 9 дней назад

Jokers!!!! 👀🤣🤣😂😂😅

@Jenesaisquoi44 15 дней назад

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

@cowtippingrocks 15 дней назад

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

@Observer168 15 дней назад

That was 20 years ago

@shauncameron8390 15 дней назад

@@Observer168 And salaries were lower 20 years ago.

@almontoya5703 15 дней назад

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 15 дней назад

This is a democratic country.

@almontoya5703 15 дней назад

@@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 15 дней назад

@@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 15 дней назад

@@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.

@fretstain 3 дня назад

lol

@JeffreyKLHo 15 дней назад

Just build affordable condos geez

@Observer168 15 дней назад

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

@shauncameron8390 15 дней назад

@@Observer168 Exactly.

@rafial81 15 дней назад

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

@JessT-vg7ib 15 дней назад

trudeau has definitions?

@snteahou 15 дней назад

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

@ewenchan1239 15 дней назад

What does Ford have to do with Trudeau???

@jsks76905 15 дней назад

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

@lga9046 15 дней назад

Is any place's definition realistic?

@streetchat5054 15 дней назад

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).

@piku5637 15 дней назад

Uncle Meow Meow says hello

@shauncameron8390 15 дней назад

So do the 45 million souls he condemned to starvation.

@pepewr 15 дней назад

✊🏽🇨🇦 Hindus for Pierre 🇨🇦✊🏽

@richiemarshall2755 15 дней назад

You can run your mouth all you won't Disney is fantasy land she was only 14

@TBA-zv9qt 15 дней назад

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!