In the Greater Golden Horseshoe, per-unit building costs to comply with regulation amount to nearly $50,000.
It takes 21 months, on average, for Vancouver to approve housing projects compared to seven months in Burnaby.
Since sprawl is limited, to grow its housing supply, Toronto must build up.
Compliance costs and fees in Toronto are typically more than twice what they are in Hamilton.
To enhance affordability, Queen’s Park and city halls across the Greater Toronto Area should reduce barriers to new homebuilding.
Boosting demand for a good without also boosting its supply puts upward pressure on prices.