Here's what Toronto Homebuyer's could expect in the next 5 years with the Housing Market
According to an analysis from local housing professionals, one of the biggest factors in property prices seeing an increase is more people moving to Toronto. It's suspected that the recent partnership between the Liberal Party and the NDP will have some positive effects on the market in the next five years.
Those effects are said to come from the new policies introduced by this partnership that would prioritize the following motions:
1. Establishing a "Homebuyers Bill of Rights" by the end of 2023, which the NDP said on their website will tackle the "financialization of the housing market."
2. Launching the Housing Accelerator Fund that would allow municipalities to be able to quickly build housing.
3. Extending the Rapid Housing Initiative for an extra year, which is a program that helps expedite affordable housing.