enbus410 stakeholder engagement

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Stakeholder Engagement Plan Assignment Province of Ontario – Housing Affordability Task Force Report ENBUS410 MAHWASH KARGEL 20826821

Dear ministry of housing affordability and task force of Ontario, As you may be aware, Ontario is currently facing a housing crisis. Houses are unaffordable, mortgage rates are skyrocketing, and there's simply not enough houses for the growing population. Citizens of Ontario are fed up with this increase in the cost of living and something must be done immediately. Please take into consideration that housing is a necessity to every individual and resources need to be put to use so that we as a community can help tackle this issue. If Ontario's economy wants to flourish, there needs to be a sustainable long term plan put into place. Sincerely, The citizens of Ontario

Province of Ontario – Housing Affordability Task Force Report Objective: The objective of this stakeholder engagement plan is to outline how to establish a strategy which implements affordable housing in Ontario. Housing prices in Ontario have increased by 180% from 2011, while income has only increased by 38% (Ontario, 2022). Due to the global challenges that Canada has faced, there has been a housing shortage because of supply chain issues, causing a struggle to keep up with demand. Issues: ● Housing shortage ● Increase in demand ● High interest rates Main stakeholders 1. Homeowners: Individuals/families who own residential properties have a significant stake in housing policies, regulations, and market conditions that can impact property values and their ability to maintain and afford homes. Homeowners would be labeled as priority, legitimacy, and urgency. They are the ones engaging in the market and having a demand. This is also an urgent matter to tackle because people need housing. There is an extreme shortage with a high demand, and safe housing is an essential requirement for the citizens on ontario. Legitimacy is also included due to the growing population and the new workforce, individuals/families are moving to bigger cities and need somewhere to live and they are the target market for housing. 2. Renters: tenants are affected by rental policies, affordability, and availability of units. Issues like rent control, tenant rights and housing quality can affect. This is also a priority as a lot of individuals/ families cannot afford housing, so they’re renting, but even with rental units, there is a shortage with a high demand. Over 60% of people who have immigrated to Canada in the past 5 years are renting (Stats canada, 2023). Tenets are even struggling to keep up with the increasing rent prices. 1 bedroom apartment prices have increased by 13% within just a year (Stats Canada, 2023). Renters are legitimate stakeholders in housing as over 40% of houses are occupied by renters (Stats Canada, 2023). This is also an urgent matter, similar to homeowners, being that individuals/families cannot survive without stable housing. 3. Real estate developers- responsible for building new housing units. Responsible for regulations, land use policies and market conditions. This is a priority stakeholder as well. Without real estate developers, there's no way more homes can be built. Legitimacy as well, they are professionally

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owned and operated companies such as Dream unlimited corp, Wall financial corp. Etc. There is also a high demand for real estate developers in Canada because of the current housing market, so this is also an urgent matter. 4. Government agencies (ministry of municipal affairs & housing, and housing affordability task force)- municipal, provincial and federal gov play a role through policies, funding and regulations. They’re responsible for creating and implementing housing policies and programs. Government agencies in the housing market are legitimate stakeholders as they fund and regulate the Ontario housing, as well as protect tenants rights. 5. Real Estate Agents and Brokers- These professionals are involved in buying and selling properties and have a stake in the housing market's health and stability. Real estate agents and brokers are legitimate stakeholders in terms of housing affordability being that they are the ones who handle the buying and selling of a home or rental unit. 6. Financial Institutions- Banks, mortgage lenders, and credit unions have a stake in the housing market as they provide financing to homebuyers and property developers. Financial institutions have priority as they are the ones responsible for handling the finances and approving mortgages/loans. Without these institutions, a lot of individuals/families aren’t able to purchase a home, which also makes them an urgent stakeholder. They are also legitimate being that they are big corporations in charge of handling the finances involved in purchasing a home. 7. Suppliers for material- Companies in which supply materials like lumber, cement, steel, kitchen appliances, etc. this includes labour processes, installation, etc. suppliers are a priority due to being that if there are not any supplies, or construction workers, there's no other way to build these homes in order to reach an affordable housing market. This makes suppliers urgent stakeholders as well. These 7 stakeholders are critical when it comes to developing a plan to tackle housing affordability in Ontario. With an increase in population, demand for homes are at an all time high, along with the cost of living, making it difficult for many families to afford basic necessities. The whole housing market is based around these stakeholders, and without one or the other, affordable housing cannot be accomplished. With the current housing crisis, prices are at an all time high due to the lack of supply. This is supply in material, labour, and most important a lack in homes on the market. With this issue, the most simple way to tackle it is to simply build more homes. With the rise in workforce, immigration, etc. the housing market cannot keep up. There must be a long term plan outlined so that we don't face this issue again in another 10 years. Ontario must keep up with the supply and demand of homes. With this being said, Ontario should be aiming to build around 1.5-2 million homes in the next 10 years. Population is going to continue to grow, and it's crucial to stay prepared for the future economy. Land is not an issue when it comes to Ontario, but which land appropriate and suitable for housing can become an issue. This is why government agencies are important. Not only to help fund this project, but to also outline where these houses should be built. There is a lot of forestry and wildlife and due to the state of the environment, it's not sustainable to cut down trees and overuse the natural resources provided. Government agencies must outline a plan on how to incorporate sustainability into this project whether it be to sustain a lot of

the forestry and resources in communities, or to promote sustainable resources in the process of home building and enforcing energy efficient appliances. Assessing each stakeholder Each of the 7 stakeholders outlined relate to the objective of, how to establish a strategy which implements affordable housing in Ontario, due to their direct connections with each other. The housing market would not be a market without its consumers which are homeowners/those looking to purchase and or rent a home, which is why they are ranked as high interest and a positive stakeholder. Suppliers and construction workers are also given high interest and a positive stakeholder being that the issue causing unaffordable housing is the lack of supplies. With supply and demand being maintained in a sustainable manner, naturally housing prices will become more affordable. Real estate developers are also important and a positive factor to succeed this plan, because they take care of land use, and the planning and outlining of communities being built. Real estate agents and financial institutions are ranked less important because they aren’t directly affected by housing affordability. Financial institutions will continue gaining capital and customers whether housing is affordable or not, as well as real estate agents. They are just a part of the process when it comes to buying and selling a home.

Engagement tactics Transitional engagement: government agencies, financial institutions ● Giving back to the community ● Government agencies need to invest funds into housing ● This can be done through government aid for first time buyers/renters ● Creating accessible communities with work, schools, parks, etc. ● Financial institutions need to work on affordable payment plans with individuals/families ● Giving them financial advice on how to save up for a home ● Currently a lot of families cannot manage and afford to pay their mortgage, financial institutions need to ensure mortgages are being approved to those that can financially keep up with payment plans ● A way we can send this message to government agencies is to use social media platforms and news sources to showcase how important it is for the government to help with housing ● Media has done a good job at broadcasting in news channels how severe this housing crisis is with sharing personal stories of how the housing market in ontario has personally affected individuals as well as families with children ● We need to encourage more of these families to speak up and ask for help In conclusion, Ontario is a rapidly growing province and we need to maintain its growth. With the 7 stakeholders; homeowners, renters, real estate developers, government agencies, real estate agents, financial institutions, and suppliers, affordable housing can be done. We just need authoritative individuals and a sustainable plan to make it happen. Communities need to work together enforce this crisis so that citizens have access to aid needed.

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CITATIONS Bush, O. (2023, June 23). Renting statistics in Canada for 2023 . Made in CA. https://madeinca.ca/renting-statistics-canada/ Canada mortgage rates history (1975 to 2023) . (1975 to 2023). (n.d.). https://wowa.ca/canada-mortgage-rates-history Canada’s National Housing Strategy - .NET framework. (n.d.). https://eppdscrmssa01.blob.core.windows.net/cmhcprodcontainer/sf/project/placetocallhome/pdfs/c anada-national-housing-strategy.pdf Housing Affordability Task Force Report . ontario.ca. (n.d.-a). https://www.ontario.ca/page/housing-affordability-task-force-report Housing Affordability Task Force Report . ontario.ca. (n.d.-b). https://www.ontario.ca/page/housing-affordability-task-force-report#section-0 More homes built faster . ontario.ca. (n.d.-c). https://www.ontario.ca/page/more-homes-built-faster Ontario Housing Affordability Task Force . Hunt Club Community Association. (2022, April 3). https://hunt-club.ca/issue/affordability-task-force/

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