Ontario government says it will help lower home prices but only for one type

Amid endless calls for some kind of government intervention to assuage the housing crisis in the GTA and beyond, the Government of Ontario is now considering helping make some of the province's homes at least slightly more affordable — but only a certain type.

Reports about the growing trend of developers tacking on tens of thousands in additional costs for pre-construction condos long after buyers have already signed on at a lower price point has apparently come to Doug Ford's attention, and his team is now looking into the matter.

The province is now seeking input from impacted homeowners and other relevant stakeholders regarding "issues that consumers are experiencing with escalations in the price of new homes after they have already been purchased," among other things.

The Ministry of Public and Business Service Delivery, which is at the helm of the newly-launched consultation, is also looking at ways it can protect consumers in these circumstances, including placing limits on the amount a pre-consruction home can be jacked up past its originally stated price and allowing buyers to launch class-action lawsuits.

A mandatory legal review period and cooling-off period for new owners of freehold homes is also being floated.

This all comes only now, two years after the premier had said "nothing burns me up more than that — some developer just trying to make extra money off the backs of hard-working people."

Comments and opinions on the subject and what action the government should take can be submitted to the ministry online through to August 13.