Mindblown: a blog about philosophy.

Roof Inspection – Look for signs of damage or aging – Conduct up-close assessments, not just visual checks – Ensure no unforeseen expenses post-purchase – Verify roof and structural warranties Foundation and Structure – Look for cracks, settling, or moisture infiltration – Assess structural integrity – Identify deferred maintenance issues early

The construction of new homes is falling behind population growth, worsening housing affordability in the GTA.Development applications dropped significantly, threatening the housing supply.

New home sales in the GTA hit a historical low of 464 transactions in August 2024. August sales ↓ 46% compared to August 2023, and ↓ 73% below the 10-year avg.

Housing stock lags behind population growth, the widest gap in 50 years. New home approvals in GTA take 20 months, increasing costs by $43,000-$90,000 per unit.

First-half 2024 saw low sales due to high interest rates and construction costs, with no expected rebound. Record-low sales will lead to fewer housing starts, worsening future housing supply in the region.

The GTA population reached 5.9M, significantly higher than in 1972 when data collection began. Average municipal fees rose by $42,000 for low-rises and $32,000 for high-rises since 2022.