'Myriad of headwinds' hurting housing supply in Canada: CAPREIT CEO
BNN Bloomberg
Mark Kenney told BNN Bloomberg on Tuesday that government plans to increase immigration, while welcomed, were not accompanied with significant investment to improve housing supply, while other taxes and fees have also stymied growth.
Mark Kenney told BNN Bloomberg on Tuesday that government plans to increase immigration, while welcomed, were not accompanied with significant investment to improve housing supply, while other taxes and fees have also stymied growth.
“There's a whole myriad of headwinds here that we have to get through, but it takes bold action, all three levels of government, not just sympathy and understanding,” he said.
Kenney pointed to high pre-construction development fees hurting projects before they get off the ground, governments without a plan to address population growth and community members unwilling to deal with the growth.