Finance committee  Good afternoon. I am the president of the association, and a builder and developer from Toronto. I'll lead off and then pass the mic over to Kevin. Our industry has been a major source of stability for Canada's economy over the last decade, and this needs to continue. Residentia

Finance committee  It's regressive. The smaller and less expensive the house, the larger the amount.

Finance committee  The homebuyer is paying.

Finance committee  I would agree with that, yes.

Finance committee  In Toronto today it would be in excess of 20%. To start with, it would be made up mostly of development charges and levy taxes, which in most municipalities today would make up between $60,000 and $70,000 directly paid by the builder. That's added to the price of the house. On to

Finance committee  That depends on the final price of the house.

Finance committee  New.

Finance committee  Thank you. I am the president of the national association and a builder developer from Toronto. I am joined by Jason Burggraaf from our association's staff here in Ottawa. Thank you to the committee for undertaking this study. Simply put, housing matters. It matters to the ec

Finance committee  No, that wasn't me.

Finance committee  No.

Finance committee  The biggest cost increase has been land.

Finance committee  Yes.

Finance committee  The GTA is the recipient of a lot of immigrants. A lot of people are competing for the same piece of land, so the price has gone up exponentially in the last—

Finance committee  There isn't more land, in our case, because of provincial and local policy on land supply.

Finance committee  It has dramatically decreased.