Finding a Place to Call Home in Toronto

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This presentation offers insight on housing in Toronto.

Michael Shapcott, Director of Housing and Innovation
www.wellesleyinstitute.com
Follow us on twitter @wellesleyWI

Published in: Real Estate, Business
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Finding a Place to Call Home in Toronto

  1. 1. Finding a place tocall home in TorontoResidents’ Reference PanelNovember 5, 2011Michael ShapcottDirector, Housing and InnovationThe Wellesley Institute
  2. 2. Remember remember the fifth of NovemberGunpowder, treason and plot.I see no reason why gunpowder, treasonShould ever be forgot...
  3. 3. Toronto’s history: Housing successes - housing crisesFour big challenges: Affordability Supply Standards Supports
  4. 4. Toronto in 2011: a divided city - in tenure, income 532,585 owners 54% of total 446,850 renters Median income 46% of total 2008: $75,400 Median income Income req’d 2008: $37,800 condo: $69,767 Income req’d AMR: $43,800
  5. 5. For renters, average market rents areoutpacing renter household incomes
  6. 6. TO affordable housing wait list: Up 22% since 2008 85000 80000 75000 70000 65000 10 10 09 09 10 10 10 10 11 11 11 20 20 20 20 20 20 20 20 20 20 20 3/ 6/ 9/ 3/ 6/ 9/ 2/ 3/ 6/ 9/ 2/ /0 /0 /0 /0 /0 /0 /1 /0 /0 /0 /1 30 30 30 30 30 30 30 30 30 30 30 September 2011: 80,955 households on wait list; 282 housed - 24 year wait
  7. 7. TO Council Feds restrict TCHC plans considers plan to kill access to to sell-off 700+ TO affordable mortgages affordable housing office TO rental homes vacancy rate drops to 2.2% Preventing / endinghomelessness / housing first TO avg market rents jump to $1,041 Toronto’s thousand high-rise Toronto’s 5,532 towers private rental vacant rental 81% of TO ‘universe’ shrinks housing stock Rapidly units in all of by 1,353 units Toronto 25 years or rising energy / older utility costs
  8. 8. Toronto Housing Charter It is the policy of the City of Toronto that fair access to a full range of housing is fundamental to strengthening Toronto’s economy, its environmental efforts, and the health and social well-being of its residents and communities. All residents should have a safe, secure, affordable and well- maintained home from which to realize their full potential. All residents should be able to live in their neighbourhood of We choice without discrimination.need a All residents, regardless of whether they rent or own a home, or plan, are homeless, have an equal stake and voice in Toronto’s future. not a All residents have the right to equal treatment in housing withoutdream discrimination as provided by the Ontario Human Rights Code, and to be protected from discriminatory practices which limit their housing opportunities. All housing in Toronto should be maintained and operated in a good and safe state of repair.
  9. 9. New supply Housing benefit Repairs Supportive housingInclusionary housing Shelters / services
  10. 10. Thank you!www.wellesleyinstitute.com

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