, a Globe and Mail reporter who focuses on cities, spoke with experts and cast a critical eye on the issues at the heart of real estate problems in Ontario.House prices in Ontario have soared 72 per cent since Doug Ford and the Progressive Conservatives took office in the summer of 2018, helping boost the economy and making paper millionaires out of a lot of people.
“You had this kind of musical chairs effect,” said Mike Moffatt, an economist and senior director of the Smart Prosperity Institute. “People were not just getting forced out of the [Greater Toronto Area] because of prices, but then getting forced out of other communities in Southwestern Ontario.” Evidence of this is the market softening in some suburban areas as rising interest rates dampen buyer zeal. However,Homeowners tend to vote, and many will resist policies that could threaten their equity.
The Tories promise to cut red tape and boost the trades. The party has also pushed cities to expand their urban boundaries, accepting more sprawl as a cost of building homes.
Meanwhile Trudeau is bringing in more than 1.5 MILLION people a year between immigration, TFWs, and foreign students, while he ignores money laundering.
The promises will be broken, basically unachievable. Let them blah blah blah all they want