Less than 1% rental vacancy rates basically encapsulates the dire immediate need for innovative municipal & provincial changes to zoning by laws. There is also an inherent warning against politically pandering to the exploding wave of nimby-ism that is exploding throughout all our hamlets, villages and boroughs of the G.T.A.
Presently, Nearly 65% of Toronto is zoned for single family homes. Technically this does not allow any home owner from legally converting their home into a duplex or triplex. This type of policy and many similar ones just perpetuates urban sprawl.
Parents & people in general continually comment on the cost of housing and how will their offspring possibly afford a future home. Politically advocating & facilitating minor zoning changes could be that panacea.
If young people are to continue & prosper in our City, let your voices be heard; Do not let the Village People be the only voice that is heard. Change is inevitable, some change is needed and good. Many Seniors need added income, enhanced social contact & assistance. Let us use the immediate housing resources at our disposal by being more inclusive in our thinking.
Toronto is no longer living in the ERA of the Cleaver`s. There are 150,000 plus new Canadians coming to the G.T.A. annually. How many of these can afford a 850 sq. ft. million $ condo or a million $ townhouse in the burbs?
Please read the attached articles from noted intellectuals.
The Rental Solution (The Week Ahead)
Check out the following link as well!
CREA cuts home sales forecast, May sales fall 16.2 per cent from year before
https://beta.theglobeandmail.com/real-estate/the-market/article-crea-cuts-home-sales-forecast-amid-seven-year-low-for-may/