The Housing Shortage is Not a Myth
The housing shortage is not a myth. It’s a bigger problem than you may think. There is land that is waiting to be developed and we could be seeing housing being built, including the missing middle the experts are calling Townhomes and semi-detached houses, which would alleviate the pressure on pricing. Part of the issue is infrastructure and another big part is policy.
As an example of the infrastructure issue, in East Gwillimbury there is land that the community wants to build thousands of homes on, but there is no water treatment plant to handle the increase in population. And to build one would cost in excess of $50Million, which the government has not made available. And we really don’t want to privatize water and sewage, just think about that for a second, and just how costly it could become to flush the toilet!
And as for policy, we have the Places to Grow Act, which restricts land use.
So we may see some slight up and down movement as government implements this and that regulation, but in the long run, if you think real estate in Toronto is expensive now, just wait and see how expensive it will be in 10-15 years. Real estate is a long term investment so plan accordingly. Good luck everyone, I hope you will achieve your home ownership dreams!