Toronto home prices are up 60% in 5 years on John Tory’s watch.
A Canadian millennial with a median income of $38,000 can’t buy in Toronto. Her maximum budget would be $193,000; whereas the average cost is over $1.05 million.
Instead of housing people who broke the law to enter our country, I will ensure housing for those who are already lawfully here. Apart from architectural standards for new buildings, my development plan prioritizes millennials born in Toronto by eliminating regulation that’s currently getting in the way of affordable housing.
By increasing foreign buyer tax on property purchased in Toronto, and by giving financial breaks to first time home buyers, we will be making housing much more affordable for millennials.
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