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Building any housing is building affordable housing. Adding one home at the top of the price range, increases the number of affordable homes for someone, somew

Building any housing is building affordable housing. Adding one home at the top of the price range, increases the number of affordable homes for someone, somewhere, by at least one.

adra 3y ago
Come tell that to the residents of Vancouver. We've had countless luxury condos made year after year for two decades and we're at around 3k/mo for a 1br.. tell us more about how building units that "regular" people can never afford that it's always helping them.
- JumpCrisscross 3y ago
  > tell that to the residents of Vancouver. We've had countless luxury condos made year after year Developing in Vancouver is outrageously expensive. Its voters chose a lengthy approval process for new housing. High housing costs are a political choice.
- bombcar 3y ago
  It's like induced demand, but for houses! "Just one more house!" At some point the market would flood and there wouldn't be as much demand anymore, but if every single person in Canada wants to live in Vancouver everyone is in for a world of hurt until Vancouver has 30 million dwelling units.
- coryrc 3y ago
  Your population is booming. You're not building as much as you think you are.
  - adra 3y ago
    A little bit dated (probably by a year) https://www150.statcan.gc.ca/n1/daily-quotidien/230613/dq230613b-eng.htm https://www150.statcan.gc.ca/n1/daily-quotidien/230613/dq230... The building of dwellings has outpaced immigration so that alone is unlikely a silver bullet.
- onepointsixC 3y ago
  Where exactly do you think the people who afford those luxury condo live right now? In the woods? And just because "countless" have been built doesn't meant that there have been enough to meet demand.
- rendang 3y ago
  Canada also has one of the highest immigration rates in the world
macNchz 3y ago
It’s exasperating how many people will fight this. I believe it has been supported by research as well. Anecdotal, but I experienced it firsthand: Several years ago I was living in a lovely, historic, but no-frills apartment in a desirable area (Cobble Hill, Brooklyn) when several new “luxury” apartment buildings opened nearby, all around the same time. They were only a bit more expensive but offered lots of amenities (doorman, elevator, gym etc) that my building didn’t have. The impact was remarkable: when other apartments in my building went on the market they sat unrented for weeks, when they’d previously rented in hours. The landlord actually lowered the rent on them! In NYC! Our lease was up soon after, and we managed to negotiate that they gut renovate our kitchen in exchange for extending our lease.
- blharr 3y ago
  >They were only a bit more expensive Not to be a doubter, but it seems like this note completely changes the context of the problem they stated. A slightly more expensive housing is competitive with the current housing you had. A higher-end luxury building being built costing 10x as much would likely have different effects.

Building any housing is building affordable housing. Adding one home at the top of the price range, increases the number of affordable homes for someone, somewhere, by at least one.

adra 3y ago

Come tell that to the residents of Vancouver. We've had countless luxury condos made year after year for two decades and we're at around 3k/mo for a 1br.. tell us more about how building units that "regular" people can never afford that it's always helping them.

JumpCrisscross 3y ago
> tell that to the residents of Vancouver. We've had countless luxury condos made year after year Developing in Vancouver is outrageously expensive. Its voters chose a lengthy approval process for new housing. High housing costs are a political choice.
bombcar 3y ago
It's like induced demand, but for houses! "Just one more house!" At some point the market would flood and there wouldn't be as much demand anymore, but if every single person in Canada wants to live in Vancouver everyone is in for a world of hurt until Vancouver has 30 million dwelling units.
coryrc 3y ago
Your population is booming. You're not building as much as you think you are.
- adra 3y ago
  A little bit dated (probably by a year) https://www150.statcan.gc.ca/n1/daily-quotidien/230613/dq230613b-eng.htm https://www150.statcan.gc.ca/n1/daily-quotidien/230613/dq230... The building of dwellings has outpaced immigration so that alone is unlikely a silver bullet.
onepointsixC 3y ago
Where exactly do you think the people who afford those luxury condo live right now? In the woods? And just because "countless" have been built doesn't meant that there have been enough to meet demand.
rendang 3y ago
Canada also has one of the highest immigration rates in the world

macNchz 3y ago

It’s exasperating how many people will fight this. I believe it has been supported by research as well. Anecdotal, but I experienced it firsthand: Several years ago I was living in a lovely, historic, but no-frills apartment in a desirable area (Cobble Hill, Brooklyn) when several new “luxury” apartment buildings opened nearby, all around the same time. They were only a bit more expensive but offered lots of amenities (doorman, elevator, gym etc) that my building didn’t have. The impact was remarkable: when other apartments in my building went on the market they sat unrented for weeks, when they’d previously rented in hours. The landlord actually lowered the rent on them! In NYC! Our lease was up soon after, and we managed to negotiate that they gut renovate our kitchen in exchange for extending our lease.

blharr 3y ago
>They were only a bit more expensive Not to be a doubter, but it seems like this note completely changes the context of the problem they stated. A slightly more expensive housing is competitive with the current housing you had. A higher-end luxury building being built costing 10x as much would likely have different effects.