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> 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
by 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.