Taxes and development fees account for nearly 30% of the cost of a new housing project and the fees are still rising despite the federal government handing money to these gatekeepers. In the city of Toronto, development fees are up 42% from last year. In the city of Burnaby, fees on a condo have increased by $50K in just one year!! Housing affordability is a lie sold to the people.
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Housing Development Taxes Surge, Crushing New Supply
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Steve SaretskyCanadian Real EstateCanada Real EstateCanada Real Estate MarketCanada Real Estate Market UpdateCanada Real Estate Market 2024Vancouver Real EstateVancouver Real Estate MarketVancouver Housing MarketCanada Housing MarketCanadian Housing MarketHousing CrisisCanada HousingHousing SupplyJustin TrudeauTrudeau NewsCanada House PricesCanadian House PricesBank of CanadaBank of Canada Rate HikeBank of Canada Rate CutBoCCanada