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As the Ontario government begins to undertake the task of addressing housing affordability in the province, it is important to consider both long-term and short-term change. To relieve the current housing crisis, the government needs to take immediate action to curb real estate investment and limit the negative impacts of existing investors. However, to ensure that similar housing affordability crises do not reoccur in the long-term future, the Ontario government also needs to introduce new models of housing that decommodify affordable dwellings, rather than expecting for-profit actors to provide market-led solutions.
This paper will present a variety of solutions available to policymakers for combatting the financialization of housing. Rather than recommending one particular course of action, this paper will demonstrate how a suite of policies can be implemented jointly for the most effective results.
While this paper will focus on the provincial regulation of real estate investment and combating financialization, addressing the housing crisis and creating sustainable affordable housing in Ontario will require many considerations beyond increasing housing supply. The federal government and municipal governments are key partners in any housing initiatives. Further, zoning policies and the regulation of developers and construction practices all play a large role in the housing system.
Watch the full presentation of the report by author Tsahai Carter at Progress Summit 2023.
About the Author
|Tsahai Carter (she/her/elle) is a recent graduate of the University of Ottawa where she studied Political Science and Languages. As a student, Tsahai was active in her school community, promoting anti-racism and equity as a student mentor and a deputy director of her faculty’s internship program. She is passionate about public policy and Anti-Racism, Equity, Diversity & Inclusion. Tsahai completed her 2022-23 Urban Alliance on Race Relations Youth Policy Fellowship placement with the Broadbent Institute.|