[falcolas]

The problem is that the supply/demand argument is that the demand largely isn't from people, it's from investment firms. And investment firms don't give two hoots about neighborhoods, density, cars, or anything other than the property's value appreciating over time (which it will, since we can't (without spending gobs of money) create more land).

Also, my personal opinion: I never want to live in a dense, or even semi-dense population center again. Living in a single family detached home with a small yard is fantastic. I can use speakers.

[closeparen]

Condos are much worse speculation vehicles compared to houses, since most of what you own is (depreciating) structure compared to (appreciating) land. To the extent that you want housing for people vs. speculators, you want multifamily.