Navigating Housing Affordability in Toronto

Green Industries is looking at Toronto through a new lens. In this unit, they’re examining aspects of the city’s urban development and design and the impact on issues like affordability, accessibility, mobility, and access to food and green space.

The section on housing affordability was initially discouraging for students. For many young people, the current cost of housing can seem overwhelming. To help students get a better idea of how Torontonians manage to purchase houses in the city, Ms. Wellnhofer brought in some expert help. Former Greenwood parent Patti Forster and Orlando Lopez from TD Bank spoke with students about the realities of Toronto’s housing market, and the creative solutions that people use to get into the market.

They discussed some practical solutions, like buying a home with another family member such as a sibling, or with a close friend. Others buy an investment property outside the city and rent within Toronto, or purchase a home that contains a rental unit.

Through this presentation, students got a more thorough understanding of both the challenges and the opportunities of the housing market. They got an idea of the sorts of options they will have in the future, as well as the tools at their disposal—including financial planning—through banks and advisers.