11–20 of 50 posts
Earlier quoted context omitted.
Nope just catching up to the valuations in Vancouver, New York, London, Tokyo and other desirable international cities.
New York and London definitely attract global talent. Toronto is not like them. This is a speculation bubble.
There's lots of talk about tapping into the 'green belt' to allow more residential building. Something needs to be done though, soon and carefully. The market's getting out of control. And often what you don't hear is the 'spillovers'. 1.Where a person from toronto sells their home for a lot, then travels to a town outside toronto to retire/settle down. Local residents/new home owners can't compete with these buyers…
Earlier quoted context omitted.
It's the same issue in NZ and Australia. All three countries are addicted to high immigration levels and rapid population growth, in order to grow the GDP. This will inevitably have effects on housing affordability and sprawl. If you try and hem in development like you say, the house prices will just increase even faster. I don't think you can have your cake and eat it too. You either need to deal with an aging popul…
The biggest problem both cities have is that everyone seems to only want a detached house. Condos are cheap in Toronto and they pump them out constantly but everyone still wants a fully detached house.
GTA has more than enough housing supply: https://betterdwelling.com/city/toronto/toronto-has-over-990... The above, and the fact that the YOY is, 30% now? It makes people 'trade' it for profit and not live in it. Hence the last month legal measures to tackle speculation. Every time people talk about 'tapping the green belt', they are either misinformed or paid to write that.
Interesting quote from the article: "I know what you’re thinking, foreign buyers! Well, foreign buyers aren’t usually census respondents so these are most likely domestic residents. AirBnB, pied-à-terre, or short-term renting are all uses I’ve heard from owners of multiple Toronto homes. The most popular reason however, is likely plain ole’ speculation."
Earlier quoted context omitted.
It's the same issue in NZ and Australia. All three countries are addicted to high immigration levels and rapid population growth, in order to grow the GDP. This will inevitably have effects on housing affordability and sprawl. If you try and hem in development like you say, the house prices will just increase even faster. I don't think you can have your cake and eat it too. You either need to deal with an aging popul…
The biggest problem both cities have is that everyone seems to only want a detached house. Condos are cheap in Toronto and they pump them out constantly but everyone still wants a fully detached house.
Not for long. In Vancouver condos were pretty cheap, at least until the average detached house topped $1 million. That puts them out of reach of middle class families and then everyone is competing for those condos. 3 bedroom condos are approaching $1 million now.
There's lots of talk about tapping into the 'green belt' to allow more residential building. Something needs to be done though, soon and carefully. The market's getting out of control. And often what you don't hear is the 'spillovers'. 1.Where a person from toronto sells their home for a lot, then travels to a town outside toronto to retire/settle down. Local residents/new home owners can't compete with these buyers…
Or maybe people should adjust their perception of what "residential housing" looks and feels like. The concept of large detached single-family lots is unsustainable. Much better would be 2-3 floor row houses or 3-4 floor midrises with plenty of green space in walkable distance.
The same is happening down the west coast of the US as well as Toronto now. We need to prioritize affordability - and not just subsidies for the poor. The middle is being hollowed out, and only those with family history in the area are affording anything. Basically if you aren't on the ladder when it shot up to the sky you are screwed now.
Earlier quoted context omitted.
It's the same issue in NZ and Australia. All three countries are addicted to high immigration levels and rapid population growth, in order to grow the GDP. This will inevitably have effects on housing affordability and sprawl. If you try and hem in development like you say, the house prices will just increase even faster. I don't think you can have your cake and eat it too. You either need to deal with an aging popul…
The biggest problem both cities have is that everyone seems to only want a detached house. Condos are cheap in Toronto and they pump them out constantly but everyone still wants a fully detached house.
There's lots of talk about tapping into the 'green belt' to allow more residential building. Something needs to be done though, soon and carefully. The market's getting out of control. And often what you don't hear is the 'spillovers'. 1.Where a person from toronto sells their home for a lot, then travels to a town outside toronto to retire/settle down. Local residents/new home owners can't compete with these buyers…
How do you propose these people commute? There are no roads and Ontario can't seem to find the money to build any.
Your commute from the Greenbelt to downtown TO could take 2 hours or more. Just look at the folks coming from Barrie and the nightmare they have to drive in. Most of the work is in Toronto so many have no choice.
Maybe if the Gov would stop the 200 billion in foreign fx that gets laundered in Canadian Real Estate people could afford a house in Toronto.
Earlier quoted context omitted.
Or maybe people should adjust their perception of what "residential housing" looks and feels like. The concept of large detached single-family lots is unsustainable. Much better would be 2-3 floor row houses or 3-4 floor midrises with plenty of green space in walkable distance.
Unsustainable, or unsustainable in the face of people using property as an investment rather than a place to live? Foreign investment has destroyed Vancouvers affordability. The city is half full of rich Chinese driving Audis, and nearly all real estate signs come in Chinese. The same is happening down the west coast of the US as well as Toronto now. We need to prioritize affordability - and not just subsidies for th…