Toronto had 360 housing units per 1,000 residents in 2020, well below the national average of 424.
On average, it takes one-and-a-half years before builders can break ground in Toronto.
Seattle’s rental vacancy rate jumped to 5.4 per cent—five times that of the GTA.
Rezoning in Toronto takes more than half a year, on average.
The Wynne government almost exclusively targeted housing demand—not supply.
Ontario’s housing plan limits rent increases to 1.5 per cent annually.
Without the OMB as a scapegoat, councillors must now make tough decisions themselves.
Toronto, Vancouver and other high-demand cities should focus on getting more housing built, at a quicker pace.
In 2011, average rents were just over $1,000—in 2016, they jumped to $1,242.
Recently 1,000 units initially intended for the rental market have been converted into condo units.