Eva Guo (9) | STAFF REPORTER
The Ontario Greenbelt, created in 2005 to prevent further environmental loss, has been the subject of heavy debate. Some argue that the Greenbelt’s two million acres of resources and wildlife must be preserved. However, opening the land for development is a necessary sacrifice that will greatly benefit the people of Ontario.
There is one important thing that the Greenbelt can provide: land for constructing houses. One of Ontario’s greatest crises is their ridiculously inflated real estate prices. With the country’s population growth and a majority of people settling in Ontario, there is an increase in demand for housing, but not enough supply.
Many young adults worry over affording a place to live, leading to an overall decrease in quality of life. Using the Greenbelt to build new homes would create a greater supply of housing, thereby decreasing the financial stress of getting a roof over your head.
Opening the Greenbelt for new houses will also boost our deteriorating economy. Research shows that Canadians are now investing approximately 30% of their income into paying back their mortgage. This causes other industries to suffer and creates a negative effect on the economy. Canada’s GDP growth is shown to have slowed down to 1.4% compared to 4.6% from two years ago.
It is a well known fact that the Canadian economy is heavily reliant on its real estate industry. On the surface, high housing prices may seem beneficial to the economy, but it will also discourage potential buyers from purchasing an estate for fear of being financially crippled. People will try to seek alternative options in renting or moving back with family. This is evident in the fact that home ownership rates are at a steady decline. A solution to this issue is desperately needed, and that solution is the Greenbelt.
The Greenbelt provides an opportunity to better the lives of our citizens and our economy. It is simply a question of whether or not to take it. Although the wildlife and natural resources will suffer, they should not be valued over the progression of our society.
