Famous for its focus on dense, infill development and quickly ascending skyline, the Toronto housing market is still plagued by rising housing costs at the single-family detached homes end of the spectrum.
"Builders and real estate experts from both the new and resale home sectors are banding together to warn consumers - and politicians - they are worried about the skyrocketing costs of housing," reports Susan Pigg.
"After almost a decade of finding 'creative ways' to build more affordable housing — more condos rather than costly low-rise houses, and suites that now average just 767 square feet compared to 908 square feet in 2006 — developers fear they are hitting a wall."
In effect, the concern reported in this article has to do with single-family homes, which have not been developed at the same pace as condos, due to the effects of the Greenbelt and Places to Grow Legislation, passed ten years ago with the goal of easing sprawl. That legislation is up for a ten-year review, expected for release in a few weeks.
The article includes a lot more detail about the unique market, and the affordability pressures, of the Toronto area.
FULL STORY: Skyrocketing cost of housing worries builders, realtors
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