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by kohanz 3614 days 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".
1 comments
aianus 3614 days 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...

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kohanz 3614 days ago
Toronto and Vancouver is an apples and oranges comparison when it comes to having space/land to build new structures.
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aianus 3613 days ago
Why'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.
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