Update: TREB has been informed by City staff that they will not be bringing forward any recommendations until at least March 2018. TREB is encouraged that City staff appear to be taking an approach consistent with what TREB has been calling for, specifically to proceed cautiously on an evidence-based course.
TREB continues to feel strongly that policy measures targeted at the housing market must be evidence based. In this regard, we have raised various issues with proposals for a tax on vacant homes in Toronto. We applaud the City for conducting public consultations on this issue, and we understand that City staff are continuing to conduct research on this issue and are not planning to report back to the City's Executive Committee until March 2018. We are happy to see that the City is taking a thoughtful and careful approach on this issue.