why i hate toronto real estate

Three Reasons I Hate Toronto Real Estate

I hate Toronto Real Estate. Well, ok maybe hate is a strong word. And, maybe I don’t hate real estate, maybe I really dislike the reporting and discussion around it.  That said, there’s something you should know about me. Im a news junkie. I need my DAILY news fix. I have to read the news in the morning and before the day is out. However, as of late the news, especially here in Toronto, has been a major downer. The problem: a constant and relentless rehashing of Toronto’s “realty bubble”.  It has me wanting to do this:

why i hate toronto real estate
Courtesy: reactiongifs.me/

I cant stand the media’s take on all of the craze in housing. Don’t they have better things to report on? And its not just the over abundance of coverage, but it is also the poor reporting that’s provided.

From stories about when the market will cool down, to over priced housing, renters being ‘kicked’ out of their units, and much more the stories have gotten to be too much, and unproductive. Instead of talking about the problem in the housing market, reporters should be talking about potential solutions — something people, myself included, generally fail do do.

So, it is in this spirit that I list the top three reasons I hate Toronto Real Estate:

  1. The reporting. This I cannot stand. I cannot stand the reporting on this issue. The exaggerations. The missed information. And more. Remember back in February (2017) when the CBC’s Shannon Martin wrote a story about how her rent was going up $1,000 per month, which led to other stories about rents doubling.Well, as it turns out (from some research) this wasn’t about rents going up as much as it was about getting tenants out so that the landlord could sell the unit – a practice used by landlords to get tenants out and have the unit ready for listing/occupation by new tenants. Watch more below and read more here.
  2. Toronto Real Estate has taken front seat in the public discourse. Instead of discussing things like government inaction, or the need for affordable housing and hour the province ought to route funds toward this direction, we’re instead discussing things like sky high prices. The conversation about housing affordability has been reduced which is good for no one.

Instead of talking about the problems with Toronto housing, we ought to be talking about the solutions: HOW CAN WE MAKE HOUSING AFFORDABLE FOR TORONTONIANS, AND CANADIANS? If the media were serious about talking about solutions, there would be reports asking about regulations, about the provinces policy regarding intensification and the like. Ive said it before and will continue to say these few points: the issues are the lack of supply, the provincial policy of intensification, and that we cannot tax our way out of this problem. More on intensification here and here.

3. There is more to Toronto then just real estate. Yes, the word of the day is real estate. Yes, people are feeling the effects of higher prices. Yes. Yes. Yes. But, lets not get distracted here. The real estate boom is also a reflection of how amazingly poised this city is. How the coming years and decades will be peak years and how TODAY, we have some of the most amazing things going on from music (2 of the most successful male musicians are from Toronto – The Weekend and Drake), to art and film, to education, to lifestyle and more (remember that article in Vogue Magazine about hippest neighbourhoods, and naming Queen West). I know, you’ll say we are celebrating this, but it is also being overshadowed.

Ultimately, I do not hate real estate or the business of it. However, it does drive me nuts when so much reporting is devoted to something we’re all a part of, we’re al contributing to, and we’re all benefiting from.

Look out for more on this topic, but until then I’d love to hear your thoughts.

x The People’s Realtor x

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