Toronto is Raising New Home Taxes by 50%: Toronto Housing Crisis

Hot off the press! In the midst of a housing crisis across Toronto and the GTA, the City of Toronto announced they may be raising development charges by 50%. At first glance, this move doesn't have much logic behind it. In the end, the developer won't eat these fees - they have a specific margin to make - they will just pass it off to the consumer making it more expensive for them to purchase. Not exactly helping our housing crisis out, but rather giving developers another reason to reevaluate if building in Toronto is in their best interest.

In this video, I react to the news of Toronto wanting to increase new development charges by 50% and explain why I don't like that idea.

Article: https://www.blogto.com/real-estate-to...