Instead of blaming foreign demand for prices that are rising because of government-imposed supply restrictions, the government should address how their own ideologically driven policies are contributing to the affordability crisis.
This article was previously published in the Huffington Post
The middle class dream is slipping through the fingers of families in the Greater Toronto Area (GTA), and the fault lies with our politicians.
Forget about a car in every garage and a chicken in every pot--with parking spots in downtown condos selling for between $45,000 and $60,000 per space, who can afford a garage, let alone a house attached to it. In February, detached homes in the GTA sold for an average price of $1.21 million and Toronto home prices are expected to grow by 20 to 25 per cent this year. Compare that to average Ontario weekly earnings of $963, or $50,000 per year, and you can see the problem.
