Photo Credit: Toronto Star
All you need to know regarding the housing market in Toronto, Canada and abroad.
This week in Toronto: What can $1 million buy you in the city, trying to cut red tape for affordable housing development and limits in landlord accountability.
Elsewhere: Deconstructing Canada's housing market valuations, the deep housing roots of Baltimore's decline and the UK housing crisis is in breach of human rights according to a report.
House hunting? Here's what $1-million buys in Toronto these days (The Globe and Mail)
To scratch my itch, I settled on the west-end Toronto neighbourhood of Roncesvalles, where houses routinely snag multiple offers and winning bids often exceed the million dollar mark. With High Park, good schools, transit, and adorable shops steps away, it’s easy to see why “Roncy” is a hot location for families.
The initiative, Open Door, is designed to encourage developers, both private and non-profit, to build affordable rental and ownership housing. “Open Door will change the way the city does business with developers,” said Tory. He said the city will “build more badly needed affordable housing, faster.”
Inside Toronto Community Housing's uphill battle (Toronto Star)
But in fact expensive repair work is constant and ongoing. This year alone TCHC is investing $175 million in capital fixes and as of last month, there were 487 projects underway in 313 of its 2,200 properties. This week, the agency led the Star on a tour of three active work sites to provide an up-close look at what’s being done to beat back the rising tide of urgently needed repairs.
The Limits in Landlord Accountability (Torontoist)
Crime is an ever-present concern at 500 Dawes, but it’s just one of many issues faced by tenants. In the past, serious maintenance problems like a broken heating system in winter have competed for attention with pest-control troubles and vandalism. But despite the steady stream of complaints about the building to City officials and tenant’s rights organizations, improvements have been slow coming.