I have warned of this for years. We will ‘NEVER’ solve this problem in the 416. Toronto founders created a disaster by building single family neighbourhoods so close to the core. Future planning botch-ups allowed these neighbourhoods to stay. We are the only large city that has these single-family home minutes to the core by foot They enjoy a density of less than 1.0. These prestige locations will follow the same price path as Manhattan freehold homes for the same reason. Not a single thing can be done to prevent this tiny number of homes so close to a huge city from skyrocketing in price. We can cry about it but we allowed it to happen. Foreign investors are not the ones lining single file down the street for open house viewings. A 15’ wide lot with a 2000 square foot home is $2.0M in two years. The only solution to help this issue is to allow for more density. Allow lane homes, allow higher density in these neighbourhoods, push 905 municipalities to fast-track new lots, and increase average density by 40%. More density = more supply.
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