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by pandaman 1591 days ago
Okay, so it does include rentals and the number seem pretty normal - the ratio of units to households will always stay close to 1.

And yes, the housing is fungible to an extent: the dearth of SFHs cause the price of SFHs to rocket and pushes the rest of the market up as the people who are priced out of SFHs can as well go and buy a condo or a townhouse.
1 comments
adam_arthur 1591 days ago
Yeah, but SFH aren't the only housing type appreciating. This theory doesn't really hold when you consider both Condos, inner city locales, rural locales etc have also experienced rapid price appreciation.

Rental or not doesn't really matter. Fundamentally people just need a place to live, and depending on locale will make the tradeoff between renting and buying. If rental stock doubles overnight, housing prices would decline too, as cost of a mortgage becomes relatively less appealing. In this sense it's fungible.

But it's true there may be some subset of people who would only buy SFH regardless of price

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pandaman 1591 days ago
>Yeah, but SFH aren't the only housing type appreciating. This theory doesn't really hold when you consider both Condos, inner city locales, rural locales etc have also experienced rapid price appreciation.

What theory? That people who are priced out of SFH buy condos, townhomes and other type of housing? What do they do, keep renting and enjoy 30% yoy rent bumps instead?

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adam_arthur 1591 days ago
No, I think we are in agreement. I may have misread your post.

People priced out of one housing type will bleed into others.

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