Quote:
Originally Posted by mezzanine
What's the price of a comparably-sized and located suite in a building 2 years old?  |
But your argument was that older stock moderates prices. It certainly hasn't moderated them to bring them closer into anything resembling affordability. Rather they just become more fodder in the speculative bubble.
I posted these stats elsewhere before and they;re worth revisiting.
Housing Starts 2015
City Metro Population Starts
Vancouver 2.5 mil 20,863
San Francisco 4.65 mil 12,766
Los Angeles 9.8 mil. 23,500
London (UK) 8.6 million 24,230
Dallas-FW Pop: 7.1 million Housing starts: 22,550
It's clear Vancouver is producing units not for population but for speculation.
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