Quote:
Originally Posted by csbvan
There are (as of November) 44,000 units under construction in the Vancouver area. Seems like builders are more than keeping pace.
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I would disagree with this.
500,000 new units to 2040 means 23,800 units per year.
44,000 units under construction today means there are roughly 14,000 units being delivered a year since average construction timline is about 3 years per project (2 years for smaller low rise, 4 years for larger more complicated projects).
Given this I would say there is no way we are keeping pace and it is ONE of the reasons we have affordability issues in this city.
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