TORONTO, /CNW/ – Housing prices in the Greater Toronto Area have more than doubled since 1998, and two new studies released on March 10th, 2011 reveal that the provincial and municipal governments have fuelled much of this increase through a myriad of fees, charges and regulatory costs that ultimately are borne by new homebuyers.
The two studies conclude that these government-imposed costs are conspiring to make housing unaffordable for a growing number of families, particularly in the GTA.
A report prepared for the Residential Construction Council of Ontario (RESCON), written by housing expert Will Dunning, estimates that up to 30% of the cost of new housing in the GTA read more