Let me debunk a couple of myths that are circulating regarding our housing supply and affordability crisis. Some municipalities have the idea that bringing in a use-it-or-lose-it (UILI) policy would encourage developers and builders to forge ahead with new housing projects. There’s also a perception that industry stakeholders are sitting on large swaths of land that is primed for housing.
The UILI proposal would give municipalities the power to withdraw infrastructure allocations for housing projects that have been granted building permits but where construction has not been started within a certain period of time, the premise being that it would compel housing to be built faster. However, for a number of reasons, removing this fail-safe device for market shocks has the potential, in fact, to actually deter the construction of new housing which could have disastrous economic implications. It has been soundly debunked by a consultant that studied the situatio
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