Re:The Canadian Housing Boom Fueled by China’s Billionaires
by aianus on Wednesday August 03, 2016 @01:39PM
(#12219880)
> this increases demand for condos, thus raising the price
Condos are not supply-constrained. You can tear down like 6 detached houses and build 240 condos in that space.
In Toronto they're making over 100,000 new units a year: http://business.financialpost.com/personal-finance/mortgages...
Re:The Canadian Housing Boom Fueled by China’s Billionaires
by kohanz on Wednesday August 03, 2016 @02:35PM
(#12220313)
Toronto and Vancouver is an apples and oranges comparison when it comes to having space/land to build new structures.
Re:The Canadian Housing Boom Fueled by China’s Billionaires
by aianus on Thursday August 04, 2016 @05:11PM
(#12228511)
Why's that? They're still building them in the downtown core, which is already way more developed than Vancouver's. There's probably some stupid NIMBY 'I need to keep my mountain views' stuff going on if they can't do the same in Vancouver.
If domestic buyers can't afford SFH's and shift their attention to condos, this increases demand for condos, thus raising the price. It is practically impossible for the two to be "totally uncoupled".