ARG1
Senior Member
That's part of the problem. The bigger issue however is the fact that the current state of real estate in the GTHA is its a completely unambiguous seller's market. Whatever the cost of the condo is relative to how expensive it was to build, that number is vastly inflated simply due to the demand. There simply isn't enough houses going around so prices are insanely high. The only 2 ways to solve this issue is A) Increase the Supply, or B) Decrease the demand. Decreasing the demand would involve reducing the number of immigrants we accept, or trying to push them to cities other than Toronto, but that just shifts the problem somewhere else. So our only realistic solution is increasing the supply, and at this point any solution that increases densities is a good solution. Missing middle are also good and also should probably done, however Condos are still an extremely strong option. Of course this also assumes that we introduce foreign buying laws which... ya, doesn't look like there's pressure to actually happen.I question how much high rise condos can really address the affordability crisis. Condos take a lot of time and resources to construct. I think relaxing zoning rules in low density residential could have more of an impact in the medium run if it allows small developers to start building low-rise multi-unit residential in established neighbourhoods. Those types of projects can be completed in 2-3 years, whereas the condo pipeline takes almost a decade.
Maybe if there was more of a missing middle supply, the people who would prefer not to live in high rise condos would have options other than SFHs that would satisfy their needs without being quite so expensive.