Majority Of Renters 'Seriously' Consider Leaving GTA: Housing Affordability Worsening [POLL]

housing (Photo courtesy of fumigene via Flickr.com)

The rent is just too damn high. And so is the cost of owning a home in the Greater Toronto Area. In fact, the affordable housing situation in the GTA is worsening according to renters and homeowners.

READ: Will Justin Trudeau Include A Housing Strategy For Renters In His Campaign?

A new Angus Reid Institute poll finds about 59 per cent of renters are “seriously” considering leaving the GTA given the high cost of owning a home.

Renters aren't alone. Of the 831 GTA residents surveyed, a total of 47 per cent are “seriously thinking of leaving the GTA” due to housing prices.

One-third of non-homeowners say they would like to buy a home right now — but just can't afford it.

And more than two-thirds of GTA residents think the government needs to further intervene in the housing market in order to improve housing affordability.

READ: Toronto Vs. The Top Rental Real Estate Markets In The World

Respondents “overwhelmingly” support of a foreign buyers’ tax in Ontario and a tax on vacant homes to help with the affordable housing crisis.

The survey's analysis states that “Among residents under age 35, fully six-in-ten are hoping the market cools off at least slightly, though it’s notable that nearly a quarter of those ages 55-plus – perhaps reflecting concern for children or grandchildren who are currently priced out of the market – say the same.”

READ: Toronto’s 35 Neighbourhoods: Where Is It Cheaper To Rent Or Own A Condo?

Ultimately, the poll finds that both homeowners and renters agree that the price of real estate in the Greater Toronto Area is “unreasonably high,” and that it may be too late for government intervention to burst the bubble they say is hurting the region.

both homeowners and renters agree that the price of real estate in the Greater Toronto Area is unreasonably high Source: AngusReid.org

READ: Doug Ford Promised Ontario This Housing ‘Plan’ Pre-Election: What Will Become Of It?

Renting

Majority Of Renters 'Seriously' Consider Leaving GTA: Housing Affordability Worsening [POLL]

READ: Will Justin Trudeau Include A Housing Strategy For Renters In His Campaign?

READ: Toronto Vs. The Top Rental Real Estate Markets In The World

READ: Toronto’s 35 Neighbourhoods: Where Is It Cheaper To Rent Or Own A Condo?

READ: Doug Ford Promised Ontario This Housing ‘Plan’ Pre-Election: What Will Become Of It?

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​Six months ago, we questioned whether it was a good time to purchase a condo in the GTA, and we tapped the region’s experts for insight. Now we're back with a winter check-in, asking: "how about now?"

For the shíshálh Nation, the work resulted in 17 below-market rental homes, jobs for local workers, and new opportunities for skills training.

“Recruitment for mission-focused priority roles is underway through platforms including GC Jobs," says a spokesperson, "and additional hires will follow as the Agency stands up the teams driving partnerships, Indigenous collaboration, investment, and project delivery.”​

Liquidating HBC's assets and closing all of its stores was the easy part — and has mostly been completed already. The hard part is determining what to do with the huge blocks of vacant space left in the company’s wake.

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The guide is designed for those without a formal background in real estate development, but with an interest in densifying their own home or investment property.

Once occupied, 141 Bay Street will be home to organizations spanning institutional investment, banking and financial services, legal and professional services, and natural resources and mining.

Peterson is revising the plan for 6800 Lougheed Highway after Burnaby introduced a new OCP and height-based development framework.

"Ontario can do much better. It should be doing much better. And there's no reason why the next 25 years need to feel like the stagnation of the last 25. We really need a mindset change in this province. We can lead the world."

Six months ago, we questioned whether it was a good time to purchase a condo in the GTA, and we tapped the region’s experts for insight. Now we're back with a winter check-in, asking: "how about now?"

“Recruitment for mission-focused priority roles is underway through platforms including GC Jobs," says a spokesperson, "and additional hires will follow as the Agency stands up the teams driving partnerships, Indigenous collaboration, investment, and project delivery.”