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Uncovering the Truth: How Government Greed Drives Housing Prices Sky High
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In this eye-opening discussion, James and Costas tackle the contentious issue of government greed and its impact on the skyrocketing housing prices in Toronto. They delve into the stark contrast between Calgary's pro-business environment and Toronto's lackluster approach to housing policies. In 2022, Toronto developers faced a staggering 46% increase in development fees within a year. The average cost for a developer to build a one-bedroom or bachelor apartment has soared to $52,367 CAD, while two or more bedroom units require a whopping $80,000 CAD or more per unit. And that doesn't even account for additional expenses like parks and waste management.
Aspiring homeowners who dream of building a single-family house in Toronto must brace for at least $137,040 CAD in development fees and other charges. Yet, there is still potential in the pre-construction condo market within the city. Regrettably, this window of opportunity grows narrower and less accessible for many Canadians with each passing day. Our podcast episode aims not only to provoke thoughtful conversation about the role government plays in managing our finances but also to inspire listeners to seize their chance at a better life in this challenging landscape.
Contact: James or Costas
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The podcast does not warrant or support any of the ideas or products talked about, please consult a legal accounting or real estate professional before engaging in any mentioned activities.
Directed and produced by James Fields.
jamesfields.ca
21 episodes
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