Thank goodness some people are paying attention.

Some governments (looking at you, Ontario, and to a certain extent, our federal leadership), seem to think everything is fine and dandy in the housing sector.

The Residential Construction Council of Ontario (RESCON) recently hosted Ontario Premier Doug Ford at its annual general meeting.

Measures needed immediately

“We heard a lot of good things from Premier Doug Ford at the AGM,” says RESCON President Richard Lyall.

“The province has made some inroads, including removing the provincial portion of the HST on purpose-built rental housing and upcoming measures to offer rebates for first-time new-home buyers,” adds Lyall, stopping short of effectively reading the premier the proverbial Riot Act, stressing to the province how badly measures are needed – and immediately.

RESCON is only the latest organization to ring such an alarm bell, as the Building Industry and Land Development Association (BILD) and others have been doing for months. (See BILD President and CEO Dave Wilkes’ latest assessment in his column on page 24.)

The province doesn’t seem to grasp the severity of the issues.

Thankfully, some municipalities do, and are taking their own action.

The City of Burlington recently voted to temporarily eliminate residential development charges (DCs) for a two-year period, and will now take measure to City Council for final ratification.

Most significant municipal response

The West End Home Builders’ Association (WEHBA) strongly supports the action, calling it “the most significant municipal response in Ontario to address the severe downturn in the housing market.”

Municipalities such as Mississauga, Vaughan and Hamilton have implemented partial reductions to development charges, but Burlington is the first municipality in Ontario to move forward with a full, temporary elimination in response to current economic conditions.

Meanwhile, other progress in the housing market is evident, as we approach what is typically busy season in real estate.

In the resale sector, for example, Toronto Regional Real Estate Board (TRREB) President Daniel Steinfeld highlights some of the positive signs emerging, in his column on page 32.

“Housing markets do not turn overnight,” he says. “The progress reflected over the past year is gradual, but meaningful. Improved affordability, increased choice and more balanced conditions have helped lay the groundwork for recovery.”

We now turn to the province to see if it all registers with the premier, and if he’ll take more broadly sweeping action.