Michele Romanow, dragon on CBC’s Dragons’ Den and co-founder of Clearco predicts what’s coming for the year ahead:
My prediction for what the future of housing will look like in Toronto this year and beyond is that the city is going to have to get out of its own way. I think many people pointed out some very good things, but you cannot bring this many immigrants in, have this many rules, make it this difficult to build a house, make it this difficult to rezone and not have great civil unrest.
And so, even with declining interest rates, which are hard to know if we’re going to get to, you still have pricing that is way too high that is only going up based on where we are on the supply-demand scale.
And the second thing is I hope we make use of repurposing all of our office buildings that I don’t think are going to be used 100 per cent for offices. I mean, we can even share office space now with other companies, or make office buildings more mixed use.
This is an excerpt from Post City’s 16th annual Real Estate Roundtable in partnership with the Rotman School of Management. Click here for more excerpts from the panel, including more insight from Michele Romanow. Special thanks to our incredible sponsor The RE/MAX Collection.
Listen to the full podcast below: