There is a housing crisis today. The basic fact is that there is a delta between what people can afford and what it costs to actually build and deliver new housing, be that ownership housing or purpose-built rental. Unfortunately, over the last number of years, that delta has grown. We've ended up in a situation where the average middle-class person or family can no longer afford to participate in the housing market in the way that previous generations could. There is no opportunity for the middle class to build wealth over time.
Ultimately, we need the private sector and all three levels of government to be rowing in the same direction to tighten up that delta between average incomes and the cost to build housing. Ultimately, they need to deliver that housing. There have been a number of conversations with previous delegates. Earlier, there were presentations by both Ms. Keesmaat and I that were related to different measures to bring down the cost, and part of that is regulatory.
My background is in urban planning. I'm a professional planner. The planning sector needs to take a good, hard look in the mirror in terms of the role that planning has played in the current housing crisis. We need to compress timelines, because ultimately time is money. The length of time it takes to get projects through the approvals process has grown significantly over the last couple of decades.
I wouldn't point my finger at the federal government, the provinces or the municipalities. It's been a combined effort that has occurred over the last couple of decades. There needs to be an incredible focus on not just reducing red tape but compressing timelines and enabling decisions to be made earlier and more quickly.