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I'd guess that many of the unused condos are borderline condemned, and priced way below median. So, it's possible there are ~20,000 condos that need enough wor
by hedora 2y ago
I'd guess that many of the unused condos are borderline condemned, and priced way below median. So, it's possible there are ~20,000 condos that need enough work to make repair uneconomical.
Still, it doesn't sound like that'd make much of a dent in Vancouver's housing supply. (Razing them and building higher density buildings might, though.)
- dleslie 2y agoIIRC, the oft-repeated and rarely-cited 1/3 vacancy is a misunderstood statistic which showed that 1/3 of condos in BC are investor-owned[0]; where an investment property is any property where the owner is not the occupant. 0: https://vancouver.citynews.ca/2023/02/03/bc-condos-investor-owned/ https://vancouver.citynews.ca/2023/02/03/bc-condos-investor-...