It was a heck of a year for RESCON and the residential construction industry, and we finished it with a bang - supporting the release of an independent research report on housing affordability earlier this month with a very successful event at Ryerson University.
We were proud to host more than 100 members of government, academia and industry leaders to witness the release of the ground-breaking research, receiving a good response for our efforts from both attendees and media. (See below.)
There's a few points I'd like to make about our partnership with the Canadian Centre for Economic Analysis (CANCEA): through this relationship, RESCON was well ahead of policy-makers in commissioning the report's new understanding of affordability, including the SCAR (Shelter Consumer Affordability Ratio) Index. The SCAR actually demonstrates the deterioration in affordability, unlike the Bank of Canada, and truly measures the population segments at risk.
Only RESCON's funding currently has enabled CANCEA to provide a framework that shows the combined and full range of demand and supply factors affecting affordability.
We firmly believe the results can help: national and Ontario policy-makers understand the consequences of their latest and potential policies; educate national and Ontario decision-makers that crucial supply-side changes need to be made with development charges and regulations; that links to infrastructure funding decisions must be better understood; and that systemic risks still remain that have not been addressed.
We're proud of what we and our infrastructure partners at RCCAO (see below) have accomplished with this Toronto-based research outfit over the course of the year.
Please enjoy the newsletter and let us know your thoughts at email@example.com! Happy holidays, merry Christmas and all the best in the New Year!