WHY HOUSING AFFORDABILITY WILL CONTINUE TO DECLINE IN CANADA
In the turmoil of 2020, a crucial issue — housing affordability in cities such as Toronto and Vancouver — has fallen somewhat off the radar. But the fundamental problem remains. Housing supply growth is failing to keep pace with housing demand. This interpretation of the facts shouldn’t be controversial. Yet it is. Why? Because some analysts focus on “supply side” factors such as how much housing is being built while others focus more on demand. Curiously, no matter how much “supply” advocates...
read moreRENTAL HOUSING ZONING COULD CAUSE SOME LAND VALUES TO DROP BY UP TO 30%: CITY OF VANCOUVER
There is little doubt that Vancouver is in need of additional rental housing as one of the measures to improve housing affordability. As a result of COVID-19, the previously hot rental housing market has somewhat softened from reduced migration and the lower number of international students. It is important to note that these supply and rent conditions are temporary and there continues to be a demand for new supply, now and over the long term. New projects approved during the current economic...
read moreINCLUSIONARY ZONING IN THE CITY OF TORONTO – WHAT YOU NEED TO KNOW
The City of Toronto is moving forward with proposed inclusionary zoning policies which have been released in draft form for public consultation. The purpose of inclusionary zoning is to increase the supply of affordable housing for low to moderate income households by establishing policies and by-laws to require a certain percentage of new development to contain affordable housing. The City’s proposed policies would be implemented within strong and moderate market areas that are limited...
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