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1BR inventory is not really an issue. Most of the new builds consist of small 1BRs so that developers can maximize their $ per square foot. rents on 2 or 3BR p
by kareemm 11y ago
1BR inventory is not really an issue. Most of the new builds consist of small 1BRs so that developers can maximize their $ per square foot. rents on 2 or 3BR places have shot through the roof because there's very little supply being added.
The real problem is that prices have become decoupled from incomes. The median home price is 10x more than the median household income (this includes condos and townhomes).
The only reason for this is outside capital driving up prices.
- wrong_variable 11y ago> The only reason for this is outside capital driving up prices. Also known as inflation OR debt issued by your govt returning home.
- shawn-furyan 11y agoThis is an insufficient explanation. Canada's debt to GDP ratio is in the 60-70% range where that of the US is in the 90% range. Yet the situation in Vancouver is significantly more acute than those of New York and San Francisco.