Today, I rise to speak to Bill 23. It is a bill to increase housing supply, among many other things, across Ontario. It is a really big bill. I have it right here. It’s large. It’s over 130 pages. We received it yesterday at about 3 p.m., and we’ve been working hard and doing outreach with stakeholders to better understand what this bill means, what the legislative changes mean, what the proposed regulatory changes mean for a whole host of things in Ontario, from our housing sector, how it is going to affect renters, its effect on the building code, its effect on conservation authorities, on development charges, on municipalities, on consumer protections for new homeowners and new condo owners.

It is a significant bill. It is also a mixed bag. There are some things that I look at and I think, “That could make sense,” and there are other things that I look at and I think, “That’s going to have some pretty serious consequences on municipalities, on environmental protections, on renters.” It does look like Bill 23 will build more homes in existing neighbourhoods, but our assessment is that it will likely make renting more expensive, it will likely encourage urban sprawl, and it will certainly harm municipalities’ ability to provide services like transit and daycare to residents.

What we were wanting to see from this government after the election was a bill that didn’t just focus on building new homes, which is absolutely essential to tackling our housing affordability crisis, but also a comprehensive approach that deals with the housing affordability crisis overall. That means building new homes. It also means building more affordable homes and supportive housing homes. It means clamping down on investor-led speculation. It means bringing in—and this is extremely important—better protections for renters as well.

The reason why it’s very important to have a comprehensive approach as opposed to just focusing on one piece of the problem is that we have a massive housing affordability crisis in Ontario. It is the number one issue in my riding, and it affects all Ontarians in different ways. On a basic level, in our riding in particular, we have a very high homeless population. University–Rosedale, Toronto Centre and Spadina–Fort York have some of the highest densities of people who are experiencing homelessness across Ontario. Many of the services for people who are experiencing homelessness are in our ridings. Many of the shelters are in our ridings. As well, many of the encampments are in our ridings. What I’m hearing from my colleagues is that the number of people who are homeless, living on the streets, living in encampments, has spread from Toronto to areas all across Ontario. It’s extremely concerning.

We have an encampment at College Street right now. It’s a new encampment, and the people who are living in this encampment literally have nowhere else to go. We have communicated with local service agencies, including The Neighbourhood Group, the church, and we have communicated with the city to try and find more permanent supportive housing for people who are living in tents, and there is nowhere for them to go. There are no permanently supportive homes available. And there are very few shelter beds available, and the shelter beds that are occasionally available—shelters are about 98% full—many of these shelters are hard for people to live in. They’re often dangerous. People are concerned that their belongings are going to be stolen. They’re worried about COVID, especially since we’re going into another wave. They have to leave every morning at a certain time. It’s very unstable.

What we also know is that many of the hotels that were established to house people during the COVID period, their contracts are up for renewal, and many of these contracts are not going to be renewed. So we have this perfect storm of rising inflation, a homelessness crisis and these hotel contracts that could be ending, which could lead to even more homelessness challenges. So it’s very concerning.

Then when we move up to the rental market, we see that our rental market is extremely expensive. We saw a dip in rental prices during the COVID crisis, but now what we’re seeing is rental prices going up. In the case of Toronto, we’re seeing rent prices reach record levels—levels that we have never seen before in Toronto, ever. I just went and had a look at the cost of a one-bedroom rental. For an available one-bedroom rental in the city, it will now cost you an average of $2,329 a month, which is a 17.1% year-over-year increase from August 2021. So rents have gone up 17% in the last year. The average amount for a two-bedroom apartment is now $3,266 for an available market apartment. That is staggering. There are estimates that you need to earn over $100,000 a year to afford just to rent in Toronto at this point.

Then when we move to the dream of owning a home, and that is a desire of many newcomers, many younger people—anybody who doesn’t have a home yet would love to own their own home, and that has become increasingly out of reach. There has been a softening in housing prices since the housing peak in February and March 2022, but with the rise in interest rates, we have actually entered, according to RBC, the worst housing affordability crisis when it comes to home prices that Canada has seen in decades because interest rates have made it even harder for people to save up the deposit and then also cover the carrying costs of having a mortgage.

This has happened under this government’s watch. The cost of buying a home, the cost of renting a home and the homelessness crisis, which is escalating, has happened on this government’s watch. It also happened under the Liberal government’s watch, but it has happened under this government’s watch. That is a legacy.

There is a need to certainly address the housing affordability crisis, and there were measures that we wanted to see in this bill to really tackle the housing affordability crisis in a comprehensive way. I want to flesh them out a little bit more before I get to the bill itself.

One, we agree with the Conservative government that building more homes, market homes and non-market homes, is necessary to address the housing affordability crisis.

Interjection.