QUEEN'S PARK – In response to the Fall Economic Statement's spluttering housing start numbers, NDP Shadow Minister of Finance and Treasury Board, Jessica Bell (University – Rosedale) made the following statement:
"The Conservatives have given developers and big landlords everything they've asked for in a desperate effort to jumpstart housing construction, it hasn’t worked. Housing starts are on life support.
"To spur the right kind of housing construction, Ontario should get back into the business of building and financing non-profit housing. A public builder creates jobs in the construction sector, helps us end homelessness, and gives Ontarians the opportunity to buy or rent a home they can afford."
Background:
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Despite all the deregulation, tax cuts and attacks on farmland and natural heritage, the outlook for housing starts has worsened -- again -- since the 2026-27 budget (see page 6):
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64,800 housing starts were projected for 2026 in the budget, but this has fallen to 64,700.
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70,300 housing starts were projected for 2027 in the budget, but this has fallen to 65,100.
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This is lower than Ontario’s historical rate of home construction, and is a fraction of the rate needed to meet the province’s goal of building 1.5 million new homes by 2031
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Housing starts have fallen every year in Ontario since 2022