A report released on July 7 identified delays to development stemming from municipal-level restrictions as the main driving factors in the supply shortages that have led to intensified price growth in Canada’s hottest housing markets.

“The dramatic growth in prices in Canada’s major housing markets is exacerbated by municipal regulations that restrict housing supply, encourage the growth of prices and negatively impact the affordability of housing,” study co-author and Fraser Institute senior director Kenneth Green wrote in the report, as quoted by a MoneySense special….