Quote:
Originally Posted by rb
This fucked up market defies logic and for that reason.
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The market is actually following logic and reason - there's wildly insufficient supply especially in cities like Vancouver (and the neighbouring cities) and there's wildly high demand so the behaviour is exactly what you'd expect to see.
Our perceptions of lots of construction happening are distorted because most of it happens in busy corridors that we tend to see but we're only marginally building slightly more than what's needed to keep the population the same rather than building to support new population.
There's lots of good analysis showing how far behind we are in providing housing and this one looks at it from the perspective of "suppressed households" and is a pretty straightforward read:
https://doodles.mountainmath.ca/blog...holds-in-2021/