Tarion recently released its 2023 Annual Report.
Tarion is trying to spin 2023 as “a successful year for Tarion operationally”, but it’s anything but successful for Ontario’s new home purchasers.
Here’s the link to that report: https://www.tarion.com/sites/default/files/Tarion-Annual%20Report%202023.pdf .
Here are the 2023 Tarion financial highlights:
- $65 million loss
- Home enrolments down but Tarion continued to increase compensation for its board, leaders and staff.
- Even general and administrative expenses are up significantly.
In the “real world”, with these sorts of financial results, most organizations would lay off management and staff, and cut other expenses as well.
But not Tarion – Tarion increased its spending for board and staff compensation and even "general and admin" expenses.
Behold Tarion's gravy train! Monopolies can get away with this.
CPBH has posted considerable details relating to Tarion’s financial results on our social media channels in the past couple of days. We have also displayed key Tarion financial results for the past few years. (See CPBH's Twitter/X, Facebook and LinkedIn channels for more information.)
More than three years ago Tarion was stripped of its regulator responsibilities but Tarion’s expenses did not decline, even with these significantly reduced responsibilities – they grew.
Behold Tarion's gravy train! Monopolies can get away with this.
Tarion’s own 2023 customer survey results (with very weak survey questions) also show a decline in 2023. Homeowner dissatisfaction with Tarion was also on full display in the Toronto Star’s business section May 25, 2024 – more on consumers that are suffering. Tarion's also trying to convince everyone that it "has reformed". But consumers aren't buying it. Here’s the link to that article in case you haven’t seen it:
All of these costs increase the cost of housing in Ontario.
Tarion seems to be trying to silence its critics. For example, Tarion’s Annual Public Meeting is June 19, and Tarion decided to reduce the time even further this year – it’s now only one hour, reduced from 1.5 hours in 2023. Most consumers won’t go given this very limited timeframe.
It's a sad state of affairs for Ontario's consumers - and the Ford Government has shut down the Legislature until October - while it's focused on beer.
But you can help. What can you do now?
- attend - or at least send in a question to - Tarion's June 19 Annual Public Meeting. See Tarion's web-site for related information on how to do this.
- write to your MPP - or even better - ask your MPP for a 30 min. meeting to discuss this situation - and request that they end Tarion's monopoly. Let's see how Tarion does competing with other organizations - like Justice Cunningham recommended.
- help us get more signatures on this petition.
Thank you for your ongoing support.
#NeverGiveUp #YouAreNotAlone
#EndTarionMonopolyNOW