Vancouver's Coming Condo Apocalypse

[whatnext]

Frances Bula has a thought provoking article in Vancouver Magazine about troubles ahead as our condo stock ages. Well worth a read:

..“What I see is that we Canadians have never foreseen the consequences of living together in a common property. We don’t have a system that allows people to understand what to do at the end of their unit’s life.”

End-of-life condo decisions are coming, and they’re coming quickly, says Tony Gioventu, president of B.C.’s Condo Homeowners Association. “We have a number that are coming up to the point where it’s not worth renovating them. I wouldn’t be surprised if there are up to 3,000 buildings up for redevelopment in the next five to 10 years.” ...
http://www.vanmag.com/Real_Estate/Sh...er_Condo_Today