Just a reminder that when given the choice of building afforable housing or paying a fine, every single developer in Montreal elected to pay a fine.

Developers. Can. Not. Be. Counted. On. To. Fix. The. Housing. Crisis.

Keep those prices high so low-density shit is phased out.

Now ensure it's harder to insure a word building against fire.

Now give a tax break that encourages the recycling of land-hoarder bungalows into shared space with high-density housing. Tax break increases with proxity to rail transit.

Now increase property tax to penalize hoarded ornamental (not agricultural) land.

That's a good start.

Tax fucking speculators like the tons of Canadians that continue to fuck over other Canadians.

If this were happening under Poilievre instead of Trudeau then he would take away funding from municipalities. That would show these developers

Interest rate spikes killed a lot of projects, and municipal stonewalling keeps the developers riding a pretty thin edge of profitability. These are for-profit businesses, of course when the loan repayments are going to eliminate all profit, they're going to back off on their plans.

Imagine you're planning a building - you design a massively profitable but huge building, but then years of bickering with city hall shrinks the building and raises your carrying costs until it's just a modest win. Still fine. You get the permits and then interest rates jump. Now if you go forwards, the project will be deep in the red. The city won't let you go back to your original huge form of the project without another multi-year fight.

If you sit on it until interest rates go down again, you're not building. If you get started on a new application for a more profitable building, you're not building.

You don't have to listen to the dead-eyed mobbed-up reptiles of the for-profit housing industry to see this, listen to progressive affordable housing builders like Jen Keesmaat or Housing Now TO and they'll tell you the same thing.

As long as the price keeps falling,

Why would you develop new housing?

If a job paid $80,000 per year in 2022 and now only pays $65,000 per year, and is likely to only pay $50,000 by next year, are you going to be rushing to develop your skills in that field?

This is the best summary I could come up with:

Inflation and the Bank of Canada's response to it, has been the main reason for the slowdown, according to David Macdonald, a senior economist with the Canadian Centre for Policy Alternatives (CCPA).

Canada could need upwards of 3.5 million new homes built by the end of the decade, according to Aled ab Iorwerth, deputy chief economist with the CMHC.

He says Canada is nowhere near on track to meet that goal, and that means most Canadians, particularly those in major cities, will continue to struggle to afford housing.

"It's not only that the construction cost goes up, it's not only that the rates are up, it's not only that people can't afford their daily food and shelter – it is the fact that the government has not figured out how to streamline the process (to approve developments)."

The federal government recently waived the GST/HST on the construction of rental housing in Canada, prompting some developers to say they would add thousands of units in the coming years.

But Shaun Hildebrand, president of Urbanation, a consulting and research firm that focuses on condo and rental markets in Ontario, disagrees.

The original article contains 819 words, the summary contains 188 words. Saved 77%. I'm a bot and I'm open source!

Unfortunate to see from the developers.

Developers costs go up if they try to make houses faster- increased labour costs by increased demands, plus decreased housing costs when they go to sell.

Why would they make homes faster?