Mr. Stewart (‘Homeowners voice support for controversial bylaw,’ June 24) is lucky he built his 2009 house prior to the EDPA being passed – his 0.3-acre fully developed lot won’t be impacted. With nothing to develop, people are happy to buy it.
What Mr. Stewart fails to note as he cashes out is how anti-development bylaws such as the EDPA are precisely what allows him to pocket so much money. As basic economics teaches, removing supply pushes up prices.
Where do Mr. Stewart and his neighbours think those who can’t afford his $1.28 million asking price will go? They will buy in the pristine hinterlands, thereby increasing our urban sprawl while eliminating our regional natural areas. The EDPA is really a Nimby bylaw cloaked in environmentalism allowing the “haves” to cash in at the expense of the “have nots” without considering the negative impact on the environment at large.