Do we really need all of the condominium and other housing developments being built in the GTA?

Yes. And the reality is we need more. The fact is that there is a housing shortage in the GTA; our population is continuing to increase and will continue to do so long into the future.

As of 2018 we have fallen short of the forecasts in the provincial government Growth Plan set in 2006 by approximately 100,000 units. This is a conservative estimate given the population growth in the City of Toronto. It is important to understand that the pace, scale and location of development is not set by developers and home builders, but by a mix of provincial government policies and regulations, the municipal government’s city plans and bylaws, as well as consumer demand. Factors affecting any one of these can make it a challenge to keep up with the original plan.

Then there’s the fact that the Ontario Ministry of Finance projects that by 2041 the population of the GTA will rise from 6.9 million today to 9.7 million. That’s an increase of about 40%, approximately 115,000 new residents each year.

Making sure we have enough housing, workplaces, schools, hospitals, and commuting infrastructure for these additional 2.8 million people is a generational challenge. Our industry is working hard every day to accommodate that growth, comfortably and sustainably, by building communities and homes and investing in infrastructure, transit, schools and roads. We all have a role to play in helping to build a livable GTA.

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