Federal government giving London $74 million for more than 2,000 housing units

[inimrepus]

The federal government just announced $74 million to build 2000+ housing units in London.

https://lfpress.com/news/local-news/...ct-with-london

[haljackey]

...even if it is used to build 2000 million dollar homes or condos. Better than nothing I guess.


Some have said we basically need a Marshall Plan (post WWII rebuild of western Europe's homes and infrastructure) to build new housing in Canada. Have the government go deep in debt to build homes en-masse to lower prices and then they will make it up over the years with mortgage/rent payments.

[jammer139]

Look forward to seeing more details about which properties will be used and what form these units will take. SFH, Duplex, Multiunit towns, Low/Mid rise buildings? Architects and designers are you paying attention with some creative ideas on maximizing density and livability and stretching the dollars?



Locations are a key consideration for planning this as well.

[Djeffery]

Originally Posted by haljackey

...even if it is used to build 2000 million dollar homes or condos. Better than nothing I guess.


Some have said we basically need a Marshall Plan (post WWII rebuild of western Europe's homes and infrastructure) to build new housing in Canada. Have the government go deep in debt to build homes en-masse to lower prices and then they will make it up over the years with mortgage/rent payments.

They could start by lowering interest rates. Interest rates are supposedly to fight inflation. Seems to me inflation is being caused mostly by housing costs, which are being pushed up by interest rates. Maybe developers could afford to build more housing if they weren't getting crushed by high interest they are paying for the years it takes to see one dollar back from the neighbourhoods and buildings they build.

[jammer139]

Today's announcement will take GST off rental construction projects. Ontario expected to follow suit.


https://www.cbc.ca/news/politics/lib...ents-1.6966608


Will this incentivize developers to move forward with stalled plans to build rental units? Will we see condo's and SFH projects continue to slow down?



Still no announcements dealing with the demand side of the equation which is population growth due to increased immigration and international students.

[jammer139]

CTV article on the GST removal for purpose built rentals.


https://www.ctvnews.ca/business/will...-say-1.6564192