Real estate prices in Canada will go up with social housing initiatives says economist

Miguel Ouellette from Montreal Economic Institute suggests that regulations aiming to include social housing in new developments is a barrier to solving real estate concerns in Canada

While advocacy group ACORN is asking the City Of Toronto to use Inclusionary Zoning (IZ) to push for more social housing, economists from a Montreal think tank are arguing against the implementation of such measures in municipalities across Canada, citing soaring real estate prices.

A report by ACORN published June 19 called Inclusionary Zoning In Toronto is advocating for the City Of Toronto to utilize IZs to mandate new condo developments set aside at least 20 to 30 per cent of their units for affordable rental housing. ACORN’s report notes that 81,000 households are on social housing waiting lists. And that more than half of tenant households are spending 30 per cent or more of their income on housing, while 20 per cent are spending more than 50 per cent…[Read More]