AI news brief
Toronto board of trade urges Ontario to amend zoning and building code rules to spur housing growth
Globe and Mail - Business - 2026-10-01
AI Summary
The Toronto Region Board of Trade is urging Ontario to amend zoning and building code rules, stating the province is unlikely to meet its 1.5 million new homes goal by 2031 due to regulatory fragmentation and outdated requirements. The board proposes a provincial zoning code and building code assessments to streamline development and reduce costs. These recommendations aim to address the significant housing gap and affordability challenges in the Greater Toronto Area.
Key takeaways
- Ontario projected to miss housing target by over 550,000 homes by 2029.
- Board of Trade calls for provincial zoning code and building code reform.
- Housing affordability remains a significant concern in the Toronto market.
What this could mean for homebuyers
Mortgage news can affect fixed rates, variable-rate expectations, affordability, and buyer timing. Use this article as context, then compare today's rates or ask the AI Mortgage Advisor how it applies to your situation.