![]() ![]() ![]() While we recognize that it will take co-ordinated effort from all levels of government to tackle the housing crisis, the city can, and should, do more to prioritize preservation. Relying solely on building new rentals to compensate for this rapid loss is akin to filling up a bathtub with the drain unplugged. This narrow focus on supply comes at the expense of tackling the roots of the crisis - including the failure to preserve the existing stock of affordable homes.Įvery day, existing affordable rental homes are lost through funding cuts, conversion and demolitions and the eviction of long-standing tenants. Decades of treating housing as an investment rather than a right is leading to the city’s decline, with safe, secure, and adequate housing increasingly out of reach for many.Īll levels of government concede we have a serious housing crisis, yet the solutions proffered are disproportionately focused on building more supply. The situation is so dire that 60 per cent of renters are cutting back on food costs to pay their monthly rent. Wages, of course, have remained stagnant, forcing thousands of renters to live precariously, spending upward of 50 to 60 per cent of their income toward shelter (placing them at increased risk of homelessness). Almost half of all Torontonians are renters and they are struggling in an environment where rents are rising exponentially, caused in part by low vacancy rates and weak rent controls.Īlmost one-third of renter households are considered to be in core housing need. Toronto continues to be one of the least affordable cities in Canada and renter households bear the brunt of the impact. ![]()
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