Quote:
Originally Posted by Changing City
What a great question. Maybe you could let us know the exact numbers, but Metro Seattle is proportionally well below Metro Vancouver
The most recent HUD Briefing paper for the Seattle - Bellevue - Everett area says there was demand for 31,900 new apartments, and 21,500 under construction, so there's more demand for rental than is being built. For ownership units there was demand for 27,900 units, but only 5,275 under construction. The condo market in Washington has ben dead in the water for several years, which is partly why the development industry has been building apartments. The llegal iabilities now faced by condo developers in the state have made it a fairly unattractive proposition.
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It seems from what you said that the overall number of units is about the same despite Vancouver's smaller size.
Can you share your sources?
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