Invest in land, it used to be said, because they’re not making any more of it.
That’s becoming a critical issue for Hamilton’s future as both new housing and economic development are being cramped by a shortage of land.
Last week the people who build Hamilton’s houses pointed to a lack of available land for development as one reason they are predicting flat
prices for new homes this year.
The problem, according to the Hamilton-Halton Home Builders’ Association, is that short supply is driving up the price of available land, leading to higher home prices. That’s resulting in fewer houses being built.
Lack of land has also been an issue for the city’s economic development – it’s one of the issues behind the hugely divisive aerotropolis proposal, and an issue The Spectator will explore in an upcoming story.
- Steve Arnold