Comment 24911

By A Smith (anonymous) | Posted June 03, 2008 at 15:37:39

I have not claimed that regulated markets don't work. I have pointed out that government restrictions get in the way of supply and demand. Had the King/Spadina area been free of building restrictions in the first place, the condo boom would have started much sooner, based on the huge demand for residences in Toronto.

Your argument is that without the new restrictions put in place in 1996, the condos would not have been built. What you are saying is that consumers heard about building height restrictions, parking restrictions, and decided that sounded like a great place to live.

If you believe this, than government should take over all development in the city. If the government knows what the consumer is craving, and the developers do not, ban all private development, and allow the government to take over.

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