The home building industry is warning that COVID-19 related construction delays will make Toronto’s housing shortage worse by stalling up to 9,000 housing starts and the occupancy of another 8,000 in the next 18 months.
A third of housing projects are behind schedule by six months or more, according to a Building Industry and Land Development Association (BILD) mid-May survey of the its members being released Monday.
The findings underscore the recommendations of a BILD report released two weeks ago recommending billions in stimulus spending, tax cuts and delays, changes to mortgage rules and approval and planning efficiencies needed to help speed Ontario’s economic recovery through construction …
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Source: https://www.thestar.com/business/2020/06/22/toronto-home-builders-warn-of-housing-project-delays-due-to-covid-19.html
