The following is a joint statement released on October 27 by members of the Ontario housing sector, including the Toronto Regional Real Estate Board (TRREB) and the Ontario Real Estate Association (OREA).
Ontario is facing a housing crisis. Projects are stalling, builders are canceling developments and families and individuals are being priced out of the market.
As the provincial and federal governments prepare to release their Fall Economic Statement and Budget respectively, our message is urgent: bold, coordinated action is needed to boost housing construction, reduce costs and put affordability back within reach for residents.
Housing is more than just shelter; it is the foundation of our economy and the heart of our communities. Today, Ontario’s housing industry, made up of builders, brokers, business groups, trade associations, non-profits and rental providers, speaks with one distinct voice. Together with governments at all levels, we must take swift action to unlock housing supply, reduce costs and restore affordability by accelerating the ownership and delivery of rental housing.
We recognize the positive work done to date by the federal, provincial and municipal governments on policy developments, zoning reforms and financing programs to encourage more housing construction, including the most recent Provincial Housing Act, Combating Delays, Building Faster Act, 2025which shows that the government intends to take further practical steps in reducing red tape, reducing construction costs and restoring confidence and investment in the rental housing market by accelerating slow resolution processes to settle disputes between landlords and tenants. Other efforts include the Housing Accelerator Fund, the Apartment Construction Loan Program, Build Canada Homes, the Building Ontario Fund, the Municipal Housing Infrastructure Program, reforms to end exclusionary zoning and allow timely construction of multiplexes on individual lots, and the Building Faster Fund, among other projects. However, more measures are needed.
We also recognize that potential disruptions impacting the housing ecosystem that are beyond the direct control of governments and industry, such as trade wars, geopolitical tensions and economic uncertainty, must be considered as we navigate an uncertain macro-level environment.
Housing remains the backbone of the Canadian economy. It supports more than 1.2 million jobs and contributes more than $143 billion in economic activity to Canada’s gross domestic product (GDP) annually. However, rising costs, a difficult regulatory environment, economic uncertainty and limited supply have slowed new housing starts and home purchases, putting tens of thousands of jobs in the skilled trades at risk. This will have an impact on spin-off economic activity in related sectors and will put both home ownership and rental housing further out of reach for many residents.
Addressing the housing challenge in Ontario and Canada will require a concerted focus on delivery. By lowering construction costs, attracting investment, and aligning tax policies, zoning and approval systems, governments at all levels can rebuild trust, protect jobs, and support innovation at the speed and scale that Canadians urgently need.
Policy priorities for immediate action
To restore affordability and confidence in the housing market, we call on municipal, provincial and federal governments to work together with the housing sector by taking the following measures:
1. Position and profile housing as an economic driver: To ensure that housing policy is economic policy, recognize housing construction and trade as a key driver of employment and GDP, adopt a framework to sustain the tremendous job creation the housing sector generates, and recognize that housing unaffordability also affects our overall economic productivity, especially in the Greater Toronto Area Hamilton Area (GTHA).
2. Modernize outdated tax rules: Extend the GST/HST exemption for new homes up to $1.5 million for homebuyers, reflecting current market realities, especially in major urban centers, and encouraging new construction.
3. Reduce costs for homebuyers: Align cost recovery with actual service delivery and housing goals to reduce construction barriers and costs for homebuyers. Municipalities and provinces must work with the business community to modernize the rate structure for new housing, which is currently increasing housing costs and limiting new supply.
4. Build faster through innovation in parallel with traditional construction: Support the advent, integration and expansion of modern construction methods – including panel systems, modular construction, robotics and other emerging technologies that embrace productivity, reduce costs and construction time and enable home construction at scale. These should be supported by an innovation policy framework created in partnership with industry that provides incentives for early adopters and customers of new solutions, as well as investments in Canadian companies offering new solutions. Scaling up breakthrough methods must occur alongside supporting the continued innovation and productivity of traditional construction techniques.
5. Free up land and end exclusion zones: Act decisively to end outdated zoning restrictions and allow for soft density and a broader mix of housing types, especially missing median and multi-unit housing in more communities.
6. Encourage private capital: Encourage programs that incentivize private capital, both investment and philanthropic, for both rental and owner-occupied housing to accelerate market and non-market construction. This should include reinstating the multi-unit housing tax incentive (MURBS).
The housing industry is ready to work with every level of government. Together we can reignite momentum, rebuild trust, restore affordability through partnership, innovation and investment, and deliver the homes our communities urgently need.
Signed:
John Di Michele, CEO, Toronto Regional Real Estate Council
Luigi Favaro, CEO, Ontario Real Estate Association
One Underwood, CEO, Habitat for humanity GTA
Michael Brooks, CEO, Real Estate Association of Canada
George Carras CEO, R-LABS Canada
Jonathan Nusbaum, CEO, Terra modular
Marlon Bray, eexecutive vice president, Clark Construction Management
Tony Irwin, opresident and CEO, Federation of Rental Providers of Ontario/Rental Housing Canada
Daryl Chong, opresident and CEO, Greater Toronto Apartment Association
Dave Wilkes, prresident and CEO, Construction and Land Development Association
Kathy Hogeveen, bornhead of operations, Assembly Corp.
Jude Tersigni, Vice President of planning and development, Minister of Public Health Developments
Richard Lyall, opresident, Housing Council of Ontario
Roselle Martino, bornexecutive vice president, policy and strategic affairs, Toronto Region Trade Council
Frank Cairo, co-founder and CEO, Kaaivan communities
Nhung Nguyen, CEO, Horizon Legacy
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