It would seem almost impossible to spend billions of dollars on Ontario’s housing problems without producing a positive result, yet Premier Doug Ford’s government is managing to do it.
The PC government has committed $5.2 billion to two major programs to speed up housing construction and increase supply, but the province’s housing situation is getting worse, not better.
The numbers are not good. A new RBC housing study shows that while most provinces have strong housing growth, Ontario’s six-month housing start average has fallen to the lowest level in a decade. The Canada Mortgage and Housing Corporation’s July data show a 25 per cent drop in housing starts in Ontario compared to last July. Every other province except B.C. has double-digit increases.
New home sales in the Toronto