The GTA housing market has responded accordingly. Over the last decade, supplies of traditional ground-oriented homes, detached houses especially, have dwindled to record lows while prices, given the growing scarcity of the product, have hit record highs. That’s not to say young folks don’t want to own condominiums or townhomes, but the Altus survey shows demand for traditional housing is almost equal. So the housing demands of millennials is not that much different from that of their baby boomer parents. The reduction in future supply of traditional homes that will come as a result of the province’s proposed plans will have a meaningful impact on the market in two ways.

Source: thestar May 28, 2016 11:03 UTC