TORONTO GIVES MUNICIPAL LEADERS FAILING GRADES ON HOUSING!
Friday Jun 02nd, 2023
A recent poll conducted by Ipsos reveals that Toronto's municipal leaders are receiving failing grades from residents regarding housing affordability. The cost of living and housing have emerged as significant concerns leading up to the mayoral election in June. The Toronto Regional Real Estate Board (TRREB), which commissioned the poll, emphasizes the need for increased housing supply as a starting point to address these issues. The survey found that a majority of respondents believe that council has performed poorly in addressing housing affordability.
Additionally, the poll highlights the overwhelming demand for the next mayor to prioritize housing affordability, with 89% of residents expressing this sentiment. Concerns about the current housing crisis are widespread, with 93% of respondents agreeing that Toronto is experiencing an affordability crisis and 79% indicating the necessity of constructing more homes.
TRREB, in an open letter to voters, outlines its housing affordability solutions, including implementing the 2023 Housing Action Plan, avoiding new taxes or fee increases on housing, and enhancing the municipal land transfer tax rebate for first-time homebuyers. The survey also identifies the cost of living as a major issue, with 84% of residents expressing concerns about their ability to afford living in Toronto. The next mayor is urged to explore methods of increasing affordability, such as constructing more affordable homes, maintaining balanced property tax increases, and revisiting the municipal land transfer tax.
The Ipsos survey further reveals that cost of living, housing affordability, crime, lowering taxes, safety on public transit, and the economy are key concerns for Torontonians. Additionally, respondents express concerns about their own ability to afford living in the city, the ability to purchase a home, the next generation's ability to buy a home, and the affordability of rental units.