LETTER: Housing supply issue will only get worse

SooToday received the following letter to the editor from reader Tim Rainone about the housing crisis.

The Housing Supply issue will only get worse going forward as the costs to build a house continue to rise due to the shortage of labour, increased labour and supply chain costs along with rising interest rates. The high construction costs of new homes increase the cost of older homes driving up the affordability costs of buying or renting a home.

You cannot build new homes at current costs when only a small percentage of people can afford to buy them. The demand for housing is high yet you cannot build homes that people will not be able to afford to buy or rent. It is like a Car Manufacturer who only builds Rolls Royces and has to stop production as nobody can afford the Rolls Royces sitting idle and being financed on the lot with high interest rates.

Property Property Latest News, Property Property Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Volumetric modular housing: A made-to-measure answer for housing shortages - constructconnect.com - Daily Commercial NewsIt’s time to cast aside any prejudices about pre-fabricated residential developments. No longer are they simple square boxes more suitable for a remote construction site than as permanent homes. And never has there been a better time to consider pre-fabr
Source: DCN_Canada - 🏆 17. / 74 Read more »

Olivia Chow Talks Affordable Housing At First Transition MeetingOlivia Chow brought together various private and public stakeholders to discuss affordable housing development and a “holistic” approach to community building. Toronto housing realestatenews affordablehousing development community
Source: storeyspub - 🏆 16. / 74 Read more »

‘All hands on deck’ required to fix housing crisis, says Ontario ChamberInflation, supply chain issues, lack of affordable housing stock exacerbate homelessness, says policy paper
Source: tbnewswatch - 🏆 75. / 51 Read more »

Sabrina Maddeaux: Housing and health crises eroding Canada's pro-immigration consensusSixty\u002Done per cent of Canadians polled said the 500,000\u002Dper\u002Dyear immigration target is too high
Source: nationalpost - 🏆 10. / 80 Read more »