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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Two refusals, three revisions, and an Ontario Land Tribunal hearing later, the project finally has the approvals it sought back in November 2023.

BILD warns that without improved market certainty and stronger consumer confidence, the slowdown could have broader economic consequences.

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​The proposal would see Onni Group redevelop the Regency Gardens apartment complex near Whalley Athletic Park into five mid-rise buildings and seven high-rise buildings.

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​The venue’s parent company was placed under receivership in 2023, with almost $10.5 million owing to TD.

“The monthly decline in national home sales was driven primarily by less activity in the Greater Golden Horseshoe and Southwestern Ontario, suggesting that the story was probably more about a historic winter storm than a downshift in demand,” said Shaun Cathcart, CREA’s Senior Economist.

​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.

Activity on the ground shows rental housing isn’t slowing down. It's a realm of the real estate market that continues to resonate Canada-wide, month after month, in ways that suggest it’s here to stay.

Over the years, they renovated the office and retail building at 401-409 King Street West, and later constructed a commercial building at 415 King Street West. The building was a longtime home to an LCBO before becoming home to Spirit Halloween and, more recently, the Toronto Night Market.

​"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."

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"This is not about architectural indulgence. It is about aligning policy incentives with outcomes the city already claims to want: stable communities with affordable quality housing that supports residents through multiple life stages."

The proposal would see Onni Group redevelop the Regency Gardens apartment complex near Whalley Athletic Park into five mid-rise buildings and seven high-rise buildings.

LJM Developments completed the LJM Tower at 2782 Barton St E last year, but many buyers did not close on their presales. LJM has also defaulted on several other loans.

The partnership between the federal and provincial governments will see Build Canada Homes contribute $170 million, and BC Housing contribute $640 million.

The venue’s parent company was placed under receivership in 2023, with almost $10.5 million owing to TD.

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."