Supply and demand, too few houses and too many people. Approx 200K new immigrants coming into the Toronto area each year, perhaps more land made available for building houses would help...
In the meantime, its no surprise that house prices and rent are high......
Of course blaming greedy landlords instead of Governments especially when you rely on Government to pay your salary makes sense too..
Development charges, sidewalk closing permit, road detour permit, park fee, sign rental fee, driveway permit, demolition permit, conservation authority review, building permit, servicing (dig up road and sidewalk, pay literally 10s of thousands to repave and re-concrete), the list of approvals, reviews, 3rd party experts, stamped documents, registrations are innumerable. It is a long, expensive and high latency business. And they wonder why no one wants to invest 800k into an old house to knock it down and build 2 semi-detached houses on it. It's laughable.
Toronto is also in an awkward position, you can not expand to the south do to Lake Ont and to the north the area was mandated as greenbelt mandated in 2005, virtually no way to expand...
Funny thing about Toronto, great place to live for most Canadians, decent climate(for Canada), 1 hour drive to the south west is Buffalo, NY, personally if I grew up in Buffalo, I could and would have moved much further south long ago:)
Supply and demand, too few houses and too many people. Approx 200K new immigrants coming into the Toronto area each year, perhaps more land made available for building houses would help...
In the meantime, its no surprise that house prices and rent are high......
Of course blaming greedy landlords instead of Governments especially when you rely on Government to pay your salary makes sense too..
Development charges, sidewalk closing permit, road detour permit, park fee, sign rental fee, driveway permit, demolition permit, conservation authority review, building permit, servicing (dig up road and sidewalk, pay literally 10s of thousands to repave and re-concrete), the list of approvals, reviews, 3rd party experts, stamped documents, registrations are innumerable. It is a long, expensive and high latency business. And they wonder why no one wants to invest 800k into an old house to knock it down and build 2 semi-detached houses on it. It's laughable.
Toronto is also in an awkward position, you can not expand to the south do to Lake Ont and to the north the area was mandated as greenbelt mandated in 2005, virtually no way to expand...
https://ariannerelocation.com/the-toronto-greenbelt/
Funny thing about Toronto, great place to live for most Canadians, decent climate(for Canada), 1 hour drive to the south west is Buffalo, NY, personally if I grew up in Buffalo, I could and would have moved much further south long ago:)