Toronto Housing Prices Got Us All in Our Feels 😭💸
Toronto housing among least affordable on this global index. Here’s what experts say needs to change. Toronto's housing market is straight-up savage, making it impossible for the youngins to cop a crib. Experts are saying it's the fees, zoning, and demand that's making prices skyrocket. The Feds are
TL:DR
Toronto's housing market is straight-up savage, making it impossible for the youngins to cop a crib. Experts are saying it's the fees, zoning, and demand that's making prices skyrocket. The Feds are tryna help with the GST thing, but is it enough? 🤔
The Tea ☕
Okay, fam, listen up. Toronto's housing market is giving major ick. Like, it's so unaffordable, it's actually comical. We're talking globally embarrassing levels of "nah, you can't afford this." The price of a regular house is like, a million-plus, even though it's dropped a bit recently. Still can't touch it, bestie. 😫
Why the heck is it so expensive? Well, the big brains are saying it's a whole bunch of things. They're throwing shade at restrictive housing rules, crazy fees to build stuff, and a super slow approval process. And let's not forget about the demand, which is like, always on 💯, partly because people are still flocking here.
The government is trying to throw us a bone, though. The Feds are promising to ditch the GST for first-time home buyers on places under a mil. But experts are side-eyeing that, saying it doesn't really hit the mark in a boujee city like Toronto. And the city's got a program to delay fees for some projects with affordable units, but they need more dough to make it work.
The effects? Let's just say it's not pretty. Young people are losing hope of ever owning a place. Sales are at an all-time L. And like, 80,000 people bounced from the GTA 'cause they couldn't handle the prices. It's giving broke. 💔
What's the solution? Experts are screaming for urgent action. They're saying we gotta revamp those housing taxes, especially the HST situation. And obviously, we need way more houses to meet the demand. Basically, the whole system needs a glow-up ASAP. 💅
Abbreviations Glossary
| Abbreviation | Full Form |
|---|---|
| Got us all in our feels | Evokes a range of emotions. |
| Cop a crib | Buy a house. |
| Straight up savage | Extremely cruel or difficult. |
| Ick | Feeling of disgust or dislike. |
| Boujee | Luxurious in lifestyle, implying snobbiness. |
| On 💯 | Always at 100 percent. |
| Throw shade at | Publicly denounce or criticize. |
| All-time L | A huge loss or defeat. |
| Giving broke | Presenting circumstances are leading to financial insecurity. |
| Glow-up | Improvement or transformation. |