Quote:
Originally Posted by snowball
Some guy on reddit posts on every real estate thread that more supply is needed to help cool down prices.
I call BS, what will more supply mean? It means the rich will still continue to outbid the regular folk for these new properties, trade it other incoming "investors" for profit, and continue charging us rent to pay for the mortgages they don't even need.
Some people don't understand how much money some of these people have. They possess more capital and power than the top 10 bidders of every sale property in Vancouver combined.
|
Yes, the only thing that can stop the market is demand side measures. But those are not coming in the foreseeable future. Short of severe demand side measures, the rich will always continue to outbid regular folk. Demand stays the same, but we have even less supply. Prices increase at an even faster pace.