MPP Singh's Statement on Urbancorp

Buying a home is one of the most significant purchases most people will buy in their lifetime. Ontarians work hard to save enough money, sometimes investing their entire life savings into purchasing a house in the province.


The situation with Urbancorp did not happen overnight, and Tarion, the regulatory body appointed by the government should have been protecting consumers from this sort of unfairness.

Hearing the CEO of Tarion tell the 188 Urbancorp new home buyers that they may or may not get all of their deposit from the purchase back, is simply unacceptable.  Urbancorp, the Ontario Government and Tarion have tied these consumers’ hands by denying them access to the money in their deposit, and access to the housing market while things only continue to get more expensive.

The government continues to stall in relation to addressing these serious concerns at Tarion Warranty, hiding behind a review that was supposed to conclude early this summer. It’s now almost the end of July and Ontarians haven’t seen any progress or action.

The Ontario government has a responsibility to ensure additional protections for these homebuyers are implemented and must take steps to closing this troubling loop-hole.‎

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