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Baby, we got a bubble!?

And I'm not going to moralize to anyone, because I'm part of the napster generation, and god knows I've pirated enough stuff over the course of my life, but the Toronto Star does need paying customers if it's going to continue to do local journalism long term.
 
I tend to agree with Tenblock's view.

I will split the difference here, btw you and @Undead as I'm inclined to do.

I find Tenblock's take, in respect of building the additional unit to be right on-point; that does help increase supply, which is great.

However, I find the suggestion that racism is related to people's opinion of the idea, at best, a far reach, and at worse, a form of racism itself.

For one thing, it clearly implies that home ownership in the Toronto region is the exclusive prerogative of Caucasians........which is so patently absurd as to be offensive.

I completely disagree with that take. Judging by the way they toss out words like POC, indigenous and "problematic" it seems like they're just hopped up on critical studies theory that's pouring out of the universities. Pure conjecture.

Addressed above.

A dev buying up condos to rent out would be celebrated--lol what? Did they miss the tide of hatred rolling around for condo investors who snap up units to rent out?

Agree. The simply act of buying up existing supply does nothing to increase supply.

It simply shifts who benefits economically (CORE) in this case.

The actual, consistent, inclusion of second units, however, does increase supply and is laudable in that regard.

******

To sum up:

Is Core doing something terrible? No.

Are the 'second units' they are building a good thing? Yes.

Are some SFH owners (of all backgrounds) NIMBY when it comes to rental housing in their community? Yes

Is the developer acting selflessly to address the housing crisis? No. They are padding their bottom line. If it happens to help around the edges, that's great; but not the primary purpose.

If Core really wants to help the rental housing crisis, building new purpose-built rental would probably be a better choice.
 
I will say this at least: buying existing homes and adding secondary units is better for the housing market than the hundreds (thousands?) of small local companies that are tearing down smaller homes to build massive new SFHs all across the region. Bungalows used to be affordable starter homes but they are all being replaced by mansions.
 
I didn’t say it was your problem. But it would be polite to simply let people know that the article you are sharing is paywalled.
 
According to today's housepriceindex.ca database update, houses are now worth 2.75X as much as when I bought back in August 2007, with the Toronto index breaking through the psychological 300 barrier for the first time in history. (The index was arbitrarily set at 100 for June 2005.)


That may be true overall according to their criteria, but that definitely doesn't apply in my neighbourhood. If that 2.75X were true here, that would put the nicer homes way over the cutoff of what Re/Max calls the "uber-luxe" category. Crazy.


However, the neighbourhood isn't traditionally a high end luxury home type neighbourhood. It's one thing for homes in a neighbourhood to double from $750000 to $1.5 million, but it's a completely different thing for homes in a neighbourhood to double from $2 million to $4 million, at least for some neighbourhoods that is. Yes, it's a nice neighbourhood with nice lots and some nice homes, but people buying $4 million homes generally will look elsewhere.
 
I saw that on another forum via a CBC article, which includes an aerial:


It would be interesting to read the title document, as owning lake bottom, let alone to the waterline, is quite rare. Interesting that you would own the land but not the water over it.
I wonder if what was originally dry land has been lost to erosion? This is apparently a big problem on the Lake Erie shore out there.
 
I just saw a very funny parody tv commerical on CP24 a few days ago , making fun of real estate agents and their high commissions , it was for some company that sells your home for a flat rate , does anyone remember what company it was ?? would be funny to post it on here
 
Anyone else find it interesting that when they talk to the average person concerned with home prices they mention things like rent control, foreign investors, and small apartments but never single family zoning, low interest rates, and opposition to new development?

What would it take to move the needle in the mind's of the average citizen as to the real causes of this crisis?
 

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