Quote:
Originally Posted by bizaro86
Toronto and the lower mainland both have huge amounts of green zone/agricultural reserve land on their outskirts that would almost instantly develop into a huge amount of new housing supply if the government restrictions on that change were removed.
|
It is being eaten up all the time in the GTA and has only contributed to pricing increasing as (IMO) investors snap up new builds before real people can even look at them. The investors look to multiply their money during build (invest small deposit and sell for market rate) instead of a real family being able to buy at the lower pre-build price. Instead of a family being able to buy a house for $500-800k, they must pay the post build $1.2-2.0m+ prices. More supply won’t necessarily help, unless there are restrictions on who can buy (etc) - more red tape, not less.