Did you know?...
The land development, home building and professional renovation industry is the major engine of economic growth in the Greater GTA. Here are some key positive impacts of housing activity (based on 2007 data). They are based on CMHC data and calculated by noted housing economist Will Dunning*:
About 160,199 direct and indirect jobs were generated by all housing activity taking place in the region.
Total wages paid were $7.4 billion.
- The value of new home construction in Greater Toronto was $8.5 billion.
A total of $8.4 billion was spent on home renovation and repair work.
All housing investment in our region came to $17.8 billion.
Government revenues alone from housing activity amounted to $3.95 billion, not counting deveopment charges, property tax or corporate tax revenues from builders and related industries.
When you buy a new home, you're also helping to build a stronger local and national economy!