Interactive Map of Toronto Housing Changes 2011-2016
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Re: Interactive Map of Toronto Housing Changes 2011-2016
#2There'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 with so much capital(especially in areas with supressed/depressed employement).
2.Where people give up trying to afford living in Toronto and move out of town to commute. This has caused rents in Hamilton/Burlington etc to skyrocket.
Re: Interactive Map of Toronto Housing Changes 2011-2016
#3There'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…
I live an hour from Toronto. Single detached homes closing prices went up 40% since last April. It's an unsustainable bubble.
Re: Interactive Map of Toronto Housing Changes 2011-2016
#4There'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…
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 population that isn't growing fast, or you need to deal with a housing crisis.
Re: Interactive Map of Toronto Housing Changes 2011-2016
#5There'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.
Re: Interactive Map of Toronto Housing Changes 2011-2016
#6GTA 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.
Re: Interactive Map of Toronto Housing Changes 2011-2016
#7There'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…
I live an hour from Toronto. Single detached homes closing prices went up 40% since last April. It's an unsustainable bubble.
Nope just catching up to the valuations in Vancouver, New York, London, Tokyo and other desirable international cities.
Re: Interactive Map of Toronto Housing Changes 2011-2016
#8Earlier quoted context omitted.
I live an hour from Toronto. Single detached homes closing prices went up 40% since last April. It's an unsustainable bubble.
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.
Re: Interactive Map of Toronto Housing Changes 2011-2016
#9GTA 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."
Re: Interactive Map of Toronto Housing Changes 2011-2016
#10There'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…
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.