Urban Consulting Practice

The population growth without a proportionate growth in the construction of new houses results in higher demand than supply, impacting the pricing of houses. The crisis is also impacted by the high land cost, city planning, and bubble housing. Bubble housing is a recurrent problem in Toronto because of the high demand for houses and speculative pricing that drives prices to unaffordable levels for the low economic classes. The Toronto city council's planning is another factor that has affected housing prices by limiting the availability of affordable land to developers. Zoning of the city has put obstacles to developing homes, making construction work expensive.