The Senate Investigation That Exposes Why Canada's Housing Costs So Much

Subscribe to Canada's #1 Real Estate Podcast: https://thecanadianinvestorpodcast.com/podcast/the-canadian-real-estate-investor A recent Senate investigation has uncovered that Canada's housing crisis is not merely due to a lack of supply, but also significant government dysfunction and bureaucratic inefficiencies. The report highlights how municipal delays and excessive development charges are inflating housing costs and stalling construction timelines. The investigation also reveals how outdated GST policies and unspent development charges are exacerbating the issue. Proposed reforms include cutting the GST on homes under a million dollars and tying federal infrastructure funding to municipal fee reductions and improved approval times. These changes could potentially reduce housing costs by 10-15% and accelerate construction. Despite efforts to boost housing through initiatives like the Build Canada Homes Act and the creation of a new housing agency, the Senate indicates that bad public policy remains the core issue. The video dives into these findings and discusses practical solutions to make housing more affordable across Canada. 00:00 Introduction: Senate Investigation on Canada's Housing Crisis 00:03 Damning Report: Government Dysfunction and Bureaucracy 00:50 GST Exemption and Housing Affordability 01:30 Population Growth vs. Housing Supply 01:45 Breakdown of Canada's Housing Dysfunction 02:27 Contradictions in the Housing Market 02:56 Systematic Reasons for High Development Costs 03:34 Development Charges and Property Taxes 05:30 GST Rebate and Housing Affordability 10:22 Development Charges: Hidden Tax on New Home Buyers 15:13 Timelines and Bureaucratic Delays 18:36 Federal Government's Role and Recommendations