Toronto’s Housing Reality

Here is a great article you all should read. A rational review of Toronto’s housing reality.

An increase in the supply of homes could be accomplished by the following:

City of Toronto Government
1. Create a policy in Central Toronto of increasing density substantially from today’s ideology. Overall, we can increase the city’s future condo housing by 15%.

City of Toronto Government
2. Create a policy of increasing density in our low-rise central and 416 neighbourhoods. Allow 2nd and 3rd units, lane housing, and higher overall lot densities. We can add a significant amount of low-rise density in the city this way.

City of Toronto Government
3. Educate NIMBY neighbourhoods about the necessity of these changes to support increasing density in their neighbourhoods. Many neighbourhood groups don’t understand current increased density policy in the city.

City of Toronto Government
4. Increase the staffing of all departments related to the approval of new condominium housing. This will result in a huge windfall of fees and cut development time by at least 1 year.

Provincial Government
5. Reinvigorate the Ontario Municipal Board, double its size to shorten the wait for hearings. This will shave 1 and half years from the 6-year odyssey that developers now face in rezoning.

Provincial Government
6. Spend money now on housing infrastructure in our suburbs and beyond. Allison, Bradford, Pickering, Guelph, Fergus, and Hamilton etc. This will greatly increase the number of new lots available for low-rise housing.

Provincial Government
7. Force the “905 and beyond” towns to release more land for development by way of a quota each year. These towns must grow quickly to prevent a disaster.

If we quickly accomplish these 7 items on my agenda price increases will greatly slow down. The Toronto market will return to a more balanced situation.