The housing affordability crisis in Toronto is due to a lack of investment in affordable housing and the failure to mandate affordability through inclusionary zoning.
Simply speeding up the approvals process for market housing will not solve the problem, as demand will continue to outstrip supply and drive up prices.
Protecting existing affordable rental stock is important, but there is a need to significantly increase the number of affordable homes across the city.
Designating surplus public land for affordable housing is a crucial component of any affordable housing strategy.
But the city needs to overcome obstacles and ensure that actual construction take place. Strengthening regulatory tools, such as creating an inclusionary zoning regime, is essential to achieve the desired outcome of affordable housing.