Do you know what the three keys to buying an affordable new home are? Supply, supply and supply.
When the supply of homes is increased, the demand and cost decreases. Simple economics.
But with our industry facing 45 different government bodies with their own individual priorities, it seems like a near impossible task to get anything done. But the industry deals with it.
We need to introduce new innovations to help cut the costs of construction. The change to the Ontario Building Code allowing six-storey wood-frame construction in January 2015 was a big step in the right direction. (RESCON was a big part of enabling that change.)
We need to go higher, and we need to have some courage. Ontario often waits for other jurisdictions to experiment with building innovation before we dare dip a toe in the water.
For example, cross-laminated timber is also being across North America to build schools: Quebec, British Columbia, New York and West Virginia are all doing it. If they’re using CLT to build classrooms for schoolchildren, surely they must be confident it’s safe.
And then there’s those 45 government bodies: why not streamline the development process by creating housing zones like in London, England, with one-third affordable to buy or rent? Check out this link.
This could be our future. Speaking of which, check out Andrew Pariser’s column on this year’s “bumper crop” of George Brown College students in the RESCON program, as well as Pariser’s column on the top-class safety procedures at Tucker HiRise’s 1 Bloor East. And RESCON’s independent research report on housing affordability which made the cover of CondoBusiness magazine.
Thanks for reading!