To ever Mayor and politician and numbskull on Twitter, the costs of a new housing development play a significant factor in the “market rate” at which a development is offered at. If the “market rate” is so easily known by everyone, why have there been cancelled projects due to lack of sales? Why would they launch at a price higher than the maximum market rate, everyone knows that number!?

Thanks to Schulich for inviting me to give another guest lecture. Always interesting to see the questions from these enquiring real estate minds. We did a poll at the end and about 60% indicated that they wanted to work in an office setting.

Personally, as a young person I think it has huge value for the education, mentorship and camaraderie.

Politicians: New housing is too expensive, no more luxury.

Developers: Well, construction costs are up 40% in 5 years & land is hard to come up.

Politicians: Hmmm... Politicians: ... here's what I can do, I am going to raise the fees you pay to us.

Developers: How does that help?

Politicians: I don't know, but it makes me feel better.

I work as a consultant in the new development industry in Toronto. Some of my opinions align with pro-growth and pro-housing supply advocates. This is my truth.

If you want to engage with me on the topic of housing, don’t bother with the you’re biased, a shill, etc. Its lame. I don’t want to pave over all the farmland, I am not paid to make pro-development tweets, I don’t make statements so I can make windfall profits. My fees don’t grow with completions or in line with price growth.

We're building a lot of housing, so we must be building enough housing. True?

We're in a building boom and prices are still going up, so supply must not be the answer. True?

We're building more housing than we ever have in the Toronto CMA. True? Chances are you're never going to change your mind as it relates to the first two questions, you have your priors and nothing I say or anyone else says is going to change that. Data be damned, it just feels like it!
However, I just wanted to comment on #3 in the above.

Twitter: Houses are too expensive, the government should do something.

Government: We'll eliminate the stress test!

Twitter: No, encourages debt & drives up prices.

Govt: We'll expand the First-time buyer program!

Twitter: No, encourages people to buy homes they can't afford Govt: We'll eliminate fees on new housing to encourage supply!

Twitter: No, growth should pay for growth.

Govt: We'll allow taller towers!

Twitter: No, too many shadows on parks & transit is too crowded.

Attending the ⁦@bildgta⁩ forum this morning. Get ready for some tweets. #condo #Toronto GTA resale condo prices (per-square-foot) up 50% in the last three years & new condos up 65%.