Recently, a huge Regent Park condo sold for a record-breaking $1 million. 3 bedrooms across 1,157 square feet of inside space and a massive 1,100 square foot terrace. The oasis of a terrace was custom manicured with imported Brazilian wood, plants to attract insects and birds, and an artisanal waterfall connected to a full irrigation system. Apparently, it’s actually a really good deal in terms of market rate in Toronto for what it offers.
When a $1 million condo is described in the same sentence as “good deal,” I take pause.
I cannot afford a home like this. You likely cannot afford a home like this either. In fact, I don’t think many young people will ever be able to afford home ownership in Toronto; even though many work full-time with a good salary.
For years, Liberal and Conservative governments alike have made bad policy decisions in housing. Almost all government interventions in housing are focused on two areas: public housing and home ownership. The middle ground of planned rentals, cooperative housing, and affordable rentals have gone by the wayside.
The absence of planned, government-led rental units has left a void for those who are renting. Investors, foreign and domestic, and big corporations are snapping up condos in Toronto and using them as cash cows in the absence of a strong federal government.
We deserve better.
I’m ready to stand up to make sure that everyone can afford a place to call home. Here’s how:
- Building 500,000 new affordable homes across the country with $5 billion provided in the first year of an NDP government.
- Accelerating and supporting the creation of social, cooperative, and non-profit housing with federal resources.
- Eliminating the federal portion of the GST/HST on new affordable housing construction.
- Championing deferred property tax programs to keep seniors in their homes.
- Pushing the CMHC to prioritize and incentivize the financing of affordable rental construction with particular emphasis on underserved communities
- Building, funding, and sustaining LGBTQ2S+ fostering and/or foster homes, and shelters.
- Including long-term care homes, and prioritizing in-home care for our aging populations.
- Exploring bans or stringent restrictions on short-term rentals in communities facing housing crises.
- Working with Indigenous communities to build housing that is appropriate and meets their needs.
- Ensuring that all federal lands or buildings sold to developers in Toronto include affordable homes or affordable rentals. Every. Single. Time.