The housing crisis in the Greater Toronto Area is at risk of threatening one of the provinces’ most profitable sectors: construction, according to a new report by an industry group calling on local governments to make it easier to plan and approve new housing projects.

In partnership with Altus Group, the Building Industry and Land Development Association (BILD) released a report Thursday that outlines the importance of the construction sector to the economic vitality of Ontario and the Greater Toronto Area (GTA). This industry — which supports over half a million workers, accounts for billions of dollars in investments, and generates significant tax revenue — is threatened by the GTA’s housing crisis which is slowing construction, driving prices up, and pushing families out of the area.

“We’re very concerned that, given the contribution that the construction industry has to the health of the economy, if we don’t fix the housing issue there’ll be consequences for our entire economy and society,” said David Wilkes, BILD President and CEO.

In a previous report conducted for BILD, titled “Forecast for Failure,” it was revealed that outdated and inaccurate population predictions have contributed to low housing supply and affordability issues in the Greater Toronto Area and Hamilton (GTAH). This has resulted in many young families having to “drive until they qualify” to afford housing in other areas of the province.

This report also found that Toronto and surrounding areas need 30 per cent more housing units to meet demand. Yet, because of lengthy approval processes and the high amount of fees, taxes, and charges made on new homes and developments by governments housing developers are wary to start building, leading to a shortage of homes in the area.

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