Re:Cycling is more important than electric cars for reaching...
by bluGill on Wednesday April 07, 2021 @10:21PM
(#26734383)
The cost of building a new house that size is about 200-250k. Everything else is land value. Note that I was taking about apartments ,when land value us as high as you say that supports tall buildings to divide the land costs between more units.
The mountains don't help, but nobody is building the apartments people want to live in.
In Vancouver proper, Average 3 bedroom house price is $2.1M. A townhouse or condo of that size is $1.5M. Your typical house payment is going to be much higher than $1500/month. Rents are probably in the $3K+ range -- I don't actually have data on this. Lots of factors there. I don't think zoning is one of them as there is constantly land assemblies and razing blocks of houses for town houses and condos. I suspect it's more geography: we're up against and ocean, a border and a mountain range.