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M ayo r c a lls fo r re p o rt on th e m any v a c a n t hom es i by M arta Marychuk Oakville Beaver Staff With the cost of housing skyrocketing in the Greater Toronto and Hamilton Area (GTHA), Oakville Mayor Rob Burton has called for Halton regional staff to investigate and report back on vacant residential real estate in Halton. There is growing concern in Oakville that homes are being bought and left vacant, Burton told fellow councillors during the March 29 Halton regional council meeting. The assumption is these homes are being purchased as an investment, Burton added. "Maybe it is a problem. I'm not sure." According to Burton, 5,000 homes in Halton region are vacant. In Oakville, there are 2,400 vacant homes; 1,200 vacant homes in Burlington; and, another 1,300 vacant homes in Milton. The remaining vacant homes (337) are in Halton Hills. Burton says he's seen some cases in Oakville where a home has increased in price by 67 per cent, over a two-year-period. "If you're concerned about future generations ... this is troubling," added Burton. " T h e real estate board does not collect information on buyers or whether properties are being purchased for investm ent p u r p o s e s ," said Dennis Horton, 20 f 7 president of Oakville Mayor Rob Burton the Oakville, Milton and District Real Estate Board, in a statement to the Oakville Beaver. "So lar there is no indication that housing prices are being driven up by foreign buyers. The main culprit behind rapidly rising home prices is the lack of housing supply that is not able to meet demand. Halton continues to be a highly desirable area for home owners in the GTA to live and work, and that is why we need to address the lack of supply" the statement added. In the meantime, Ontario Finance Minister Charles Sousa announced the provincial government plans to include measures to make housing more affordable in the upcoming spring budget. Sousa has not yet announced a date for the budget -- although it is expected in a few weeks. Speculative investing in real estate, buying a home with the intent of making a profit, rather than buy home as a place to live, is being reported in the media as one of the reasons behind skyrocketing home prices. Sousa has also asked federal Finance Minister Bill Morneau for changes to taxes on capital gains on the sale of homes that aren't a primary residence, to stop speculative investing. "The Province and federal government are talking, but we haven't been invited to the table," added Oakville Councillor Tom Adams. The 905-area-code suburbs have been excluded. "Maybe we can ask again." CD O =T GO h* O o > NO m CD m i 7) CD f J n a fW a //V G ca.com THIS WEEK'S C O A fO R T Cl CD = > o b o SERVICING THE M K W i i COMMUNITY FOR OVER 2 0 YEARS! BEST QUALITY. BEST SERVICE. BEST PRICES! 3 All Commercial and Residentantial AAA O FF 1/2 P R IC E A n y C arp e t S ty le B e r b e r · T w is t P lu s h · S h a g T e x tu re d B e rb e r $ 2 .9 9 'r ^ i« iP % P /s q .ft. I n s t a lle d w i t h U n d e rp a d 1500 sq.ft, limit DiSPOSAl SERViCES M en tion Promo Code Oakville Beaver and receive 1 0 % OFF the Price o f Your 10% 5' X 8' STARTiNG AT BiN RENTAL* Serving Oakville, Burlington, Milton & Mississauga 586 Third Line, Oakville www.aaadisposal.org AREA RUGS FOLLOWiNG LOCATiONS ONLY: iF io if y W u i M & c a .c o m OPEN SUNDAYS M a d a m 905 337-8686 - 1921 SUPERSTORE TRAFALGAR VILLAGE, (across fromO ak v ille G oStation ) OiUfMlWB 905.849.4472 228 KING ST. E. Hamilton 905-546-1921 NEED M O RE C O U N TER SPACE? Tradyo is a m obile app that connects you with buyers and sellers that are nearest to you. Snap photos and post item s you w ant to sell or chat with the sellers of things you w ant to buy. Really, it's that sim ple with Tradyo! So - W h a t's in your Tradius? trady o .co m ** metrolandmedia · Connectedtoyour com m unity* V AppStore trad ye