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This is a reply to the sibling comment rather than the parent (which I largely agree with). Politically incorrect rhetoric aside, it's clear than Vancouver's ho
by andrewjl 9y ago
This is a reply to the sibling comment rather than the parent (which I largely agree with). Politically incorrect rhetoric aside, it's clear than Vancouver's housing shortage can be easily addressed by free market mechanics.
Increased supply, even if not available on the market means that the owner or occupant will not outbid a local on a different housing unit. Multiple additional housing units will over time enter the market and reduce competition and rent increases. A more friendly zoning situation will also spur developers to bring in more housing capacity. This will stabilize or reduce rents, as has been empirically demonstrated in the past year by Seattle.
- fatbird 9y agoFor the last 20 years Vancouver has had a building boom in which housing starts and completions have been at record highs. We're adding housing stock as fast as we can and faster than almost any municipality in North America. After 20 years, we're at record high prices, available rental properties are at record lows, and rents are at record highs. How is it that glutting supply has failed to drive prices down, correcting over-investment in our housing market?
- andrewjl 9y agoFaster than Seattle on a population-adjusted basis?