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Ontario Slash Housing Targets, Prioritize Affordability

Published 4 days, 23 hours ago
Description

Ontarios housing start forecasts have been significantly reduced in the latest provincial budget, with only 64,800 new homes expected to break ground this year, far from the 1.5 million target by 2031. The province is shifting focus from the big number to affordability, introducing a short-term HST rebate expansion and working with Ottawa to ease municipal development charges. However, opposition voices argue that these efforts are insufficient to combat rising rents, tough buying markets, and growing homelessness amid inflation, labor gaps, and high costs.

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