07-27-2021, 05:33 PM
(06-25-2021, 08:26 PM)cherrypark Wrote: This letter to the editor got me chuckling:
If you’re bothered by development, tear down your house and return property to its natural state
Read an interesting article about Canada's housing crises, and affordability issues. It mentions that if we allow for more building with less red-tape, then existing properties lose some value, due to them being second hand (much like how a new car goes for a lot more than an old car). It applies equality to owning or renting. Developments like this one mentioned in Cambridge, would trickle down to other existing units, and force them to go for less, rather than the continual increases we see today.
But I still hear, including this site, people going on how we can't build so many units because there aren't enough people. My thought is, we continue to build and build, especially large condos and large apartments, until we have too many units in the market. As of now, we still don't have enough. Once we have too many, then older places will have to rent out for less.
I was surprised at how cheap some places in Toronto were -- $650 for studio, $750 for 1-bed, and $850 for 2-bed, all inclusive. Not a horrible looking apartment, but certainly not new and cutting edge. Toronto, though, has built and built, and apartment rentals are starting to come down a bit, especially outside the core.