Slashing development fees not a cure-all for housing affordability

The Canada Mortgage and Housing Corp.'s chief economist Mathieu Laberge published a report Wednesday that says reducing or eliminating development charges could increase the number of viable projects, but the numbers vary by city.Targeting those fees is not a cure-all for Canada's housing affordability woes, he found."Reducing or even eliminating development charges wouldn’t solve the housing crisis facing Canada," Laberge wrote.

"While it may incent greater supply, the increase is not enough to reach pre-pandemic affordability levels in many cities."