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Canada: Probe finds 16 years of home construction price-fixing

By  |  January 31, 2013

Media outlets are reporting that Canada’s Competition Bureau has found widespread price-fixing within Toronto’s construction industry. A report by the bureau outlines the collusion that occurred in the sector for 15 years to raise the prices of building foundations for homes. There are estimates that the price-fixing may have caused hundreds of millions of dollars in extra cost for homeowners. According to the report, some of the area’s largest construction companies that pour the concrete for house foundations fix-prices, made non-compete agreements and made efforts to squeeze out smaller competitors. More than 330,000 homes have been built in the greater-Toronto area since 1997.

 

Full Content: CBC News

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