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To intervene or not in Toronto’s market

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Real Estate Professional | 10 Apr 2017, 08:15 AM Agree 1
Arguments abound on both sides of the debate: Should something be done to cool Toronto’s red hot housing market?
  • Ray | 10 Apr 2017, 10:59 AM Agree 1
    Why the government didn't do anything in 1980's and now they want to intervene? why not to reduce the development charges of $50000 to $100000 to help developers to build affordable houses? Why not to review all restrictions by municipalities for builders and developers? Foreign buyers are just 5% of the market and even if there are more, what's wrong with that, it's a free market. Why the government want to intervene in empty houses? It's my property and it's my decision to rent or not to rent. It's like I have a car in my garage and government penalizes me for not driving it.
  • Darren | 10 Apr 2017, 03:19 PM Agree 0
    Well said.
  • | 11 Apr 2017, 10:36 AM Agree 0
  • Zee | 11 Apr 2017, 03:45 PM Agree 0
    Ray, "reduced from 50k to 100k" ???
  • m douglas | 12 Apr 2017, 07:57 AM Agree 0
    If development fees are reduced do you really think that builders will use that to make affordable housing? The same builders who put out limited inventory just so they can increase their prices on the next release? I do think that there should be some government intervention but it does need to be directed at the supply side not on taxing buyers regardless of where they come from.
  • Mark Ranger | 18 Apr 2017, 02:11 PM Agree 0
    Intervening in the housing market will only exacerbate the problem as the free market seeks to fulfill the individual wants of it's mass interests. Like a balloon upon which you exert pressure here, it bulges out there and when you exert pressure there it bulges out elsewhere. Quelling markets is like getting REALTORS® to agree... or like herding cats.

    In due time the market will seek it's proper equilibrium. Recently It has merely caught up after years of stagnant growth and now poised to overshoot, as is always the case when human emotion is introduced into the mix. That too will be well taken care of as the market seeks it's proper equillibrium never to be achieved, one way or the other (boom/bust), for any significant period of time due to the human emotion factor.

    People love crowds... ever notice how many show up for one or avoid desolation? So to is it with demand.
  • Vee | 20 Apr 2017, 04:03 PM Agree 0
    Instead of Taxing vacant properties (ridiculous), or adding a foreign sales tax, why not put a cap on the bidding wars to limit the offer price going above a certain percentage over asking and force the Seller to choose a Buyer to work with.
  • JordonSutton | 21 Apr 2017, 07:57 PM Agree 0
    Build build build
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