• The Provincial Government's goal is to drastically in short order increase housing supply which is supposed to bring down the cost of housing so that middle class citizens can afford to buy or rent.  This rationale is flawed. 

• Simple economics of supply and demand do not apply to housing.  It comes down to cost.  As construction costs continue to increase, so too will home prices and rental rates, regardless of supply.

• Hard construction costs (material and labour), which have significantly increased year over year, make up the bulk of costs that determine final pricing. 

• Higher interest rates increase the cost of borrowing for developers, driving up costs and pricing.

• Municipal fees such as DCC's (contributions for infrastructure upgrades) and CAC's (contributions for community amenities) increase year over year.

• Pushing through more projects at the same time to accelerate delivery of housing will create inflationary pressure, causing the cost of construction materials and labour to increase.

• Dramatic changes in land use will create mass speculation, potentially driving up land values.

• These forces will result in overall higher costs which will be passed through to buyers and renters.  

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• If developers are not able to make a profit, they will not start a project.

• New supply will always be more expensive, and home prices and rental rates will continue to average up as new expensive supply replaces older more affordable housing stock. 

• New supply does not lead to affordability.

• The end result is simply a land-grab for the well-heeled and is tantamount to the expropriation of homes for the benefit of corporations, investors, speculators and developers.