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Originally Posted by logan5
Just thinking back to that Andy Yan study from 2013... it concluded that metro Vancouver had 7 point something percent empty homes, vs Calgary's 5%. If there is a problem with foreign investors hollowing out neighbourhoods, it's very localized to a few areas on the west side and Coal Harbour.
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Andy Yan also concluded that more than 25% of apartments/condos downtown were empty or not occupied in that very same study. I imagine the numbers would look similar if you were to examine the new mid-rise developments on Cambie.
I feel like isolating land constraints as a causation and presenting densification as the answer is a total cop out to the underlying issue at hand. An increase in demand is not why housing prices have increased by 25% in the past year. We have to acknowledge that offshore money is flooding the market and is having a huge effect in the region. We also have to acknowledge that all levels of government are doing little to address this; despite mounting evidence that show that these homes are being purchased exploiting illegal tactics.
Quote:
Originally Posted by Bcasey25raptor
Densification right now is still mostly constrained to the downtown peninsula and the areas immediately around it. We need to spread that density around. Yes the cost of housing in metro vancouver has been rising mostly due to foreign investment, but land is still an issue, we can't build new SFH in the city of Vancouver.
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Marpole, Kerrisdale, Collingwood, Oakridge, Kingsway...Densification is occurring.