Quote:
Originally Posted by Great68
It adds one more unit to the housing pool. It'll be within someone's affordability, which could potentially open up another less expensive unit down the line that the "poor complainer handout takers" might be able to afford. That's how this works. Supply/Demand, More available units = more cheaper.
|
Personally, I don't think the rule change (on AirBnB) will make a dent on housing affordability and availability though because the measure is really quite small. The total number of AirBnB units in the province is only estimated to be ~30k units. On the other hand, the province's
quarterly population growth is somewhere in the 50k range. I dunno how many new housing units become available in a given year, but we all know from recent history that the supply side has not been able to keep up with demand.
Earlier in the summer months, I remember reading some news regarding the hotel industry saying how they have a desperate shortage of rooms in BC, and that was one of the reasons prices were driven way up.
So it seems like everywhere I turn, housing supply is still in major shortage, so I wouldn't expect prices to soften any time soon.