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> You can buy a condo, the prices of which are totally uncoupled from SFHs If domestic buyers can't afford SFH's and shift their attention to condos, this incr
by kohanz 10y ago
> You can buy a condo, the prices of which are totally uncoupled from SFHs
If domestic buyers can't afford SFH's and shift their attention to condos, this increases demand for condos, thus raising the price. It is practically impossible for the two to be "totally uncoupled".
- aianus 10y ago> this increases demand for condos, thus raising the price Condos are not supply-constrained. You can tear down like 6 detached houses and build 240 condos in that space. In Toronto they're making over 100,000 new units a year: http://business.financialpost.com/personal-finance/mortgages-real-estate/canadas-condo-boom-spikes-to-heights-not-seen-since-1971-and-thats-making-economists-nervous http://business.financialpost.com/personal-finance/mortgages...
- kohanz 10y agoToronto and Vancouver is an apples and oranges comparison when it comes to having space/land to build new structures.
- aianus 10y agoWhy's that? They're still building them in the downtown core, which is already way more developed than Vancouver's. There's probably some stupid NIMBY 'I need to keep my mountain views' stuff going on if they can't do the same in Vancouver.