Quote:
Originally Posted by Crawford
Dallas is the fastest growing major city in U.S./Canada.
Also, how many articles have we seen lamenting the supposed lack of multifamily in Toronto? Bizarre. They have tons of multifamily, and moreover, the multifamily is quite cheap compared to SFH, obviously suggesting that the problem isn't too little multifamily.
Also, LOL at the first sentence. Yeah, there are no immigrant families doubling up in Toronto presently. The Indian grannies you see walking around Brampton would never consider multigenerational living.
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It's not about a lack of a housing type so much as a lack of housing in general that's pushing up prices. Part of the situation is that the governments have decided they don't want too much new greenfield growth, which is one limitation on new housing, but the demand is definitely higher in the core where the only way to built more is to build up, not out.
I think there's demand for more housing in the next ring of neighbourhoods built in the 40s-60s in Etobicoke, North York and Scarborough as well, where housing costs are lower and multi-family could be built at a more affordable price. The housing in those areas is not that cheap (compared to outer suburbs), and those are often less dense than the outer suburbs which means it's easier to densify. The pressures to better utilize the land in those neighbourhoods has led to the bungalows being replaced with 5000 sf homes, but the market for 6 bedroom, 5000 sf homes is only so big, I think the market for affordable 3 bedroom apartments and townhouses is much bigger.