'We can no longer build what people can afford'
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As around 2,500 condos sit unsold in Metro Vancouver, experts warn of 'potential storm coming' for real estate | CBC News
The Canada Mortgage and Housing Corporation says there’s about 2,500 condos sitting unsold and empty in Metro Vancouver. The local real estate industry is concerned about layoffs and hopes for housing policy changes.
CBC (www.cbc.ca)
You know how I know there’s nothing in this article that pertains to the best interests of Canadians? It’s sources are in the real estate industry, the least talented yet most entitled group of “entrepreneurs” the world has thus far produced.
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Maybe for a bit as those companies go out of business. Then they go way up because there’s no new houses. Or we could solve whatever the underlying problems are.
The underlying problem is houses are priced to high. There is no such thing as an “unsold home” - they are overpriced. Mystery solved.
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The underlying problem is houses are priced to high. There is no such thing as an “unsold home” - they are overpriced. Mystery solved.
The thing we’re worried about here is unbuilt homes. I think I actually laid it out pretty clearly.
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The thing we’re worried about here is unbuilt homes. I think I actually laid it out pretty clearly.
Overpriced homes will go unbuilt, as will homes for foreign investors and homes for short term rentals. That’s all good news so far. Demand for affordable homes for Canadians homes will continue, and so will supply. Supply of those homes will increase as supply of the overpriced decreases - ie when the real estate industry starts building what people want and no what they want to sell.
“homes will go Unbuilt if we don’t bend over for the real estate industry” is exactly the same lie as “if we tax Job Creators the jobs will go away”.
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Overpriced homes will go unbuilt, as will homes for foreign investors and homes for short term rentals. That’s all good news so far. Demand for affordable homes for Canadians homes will continue, and so will supply. Supply of those homes will increase as supply of the overpriced decreases - ie when the real estate industry starts building what people want and no what they want to sell.
“homes will go Unbuilt if we don’t bend over for the real estate industry” is exactly the same lie as “if we tax Job Creators the jobs will go away”.
The homes in the article were the affordable kind.