Quote:
Originally Posted by mezzanine
I'd disagree. New housing priced at a premium now depreciates and becomes older stock that moderates rents/prices.
It is hard to plan policy around a demand that can change on a dime and supply that takes months to years to come to fruition. I also suspect that many still doubt that a lot of people want to move to Vancouver, which drives demand.
http://www.lao.ca.gov/Publications/Report/3345 |
Oh you mean like this? Over 22 years old for over 1,000 sq/ft? Not a lot of depreciation going on there, or any other unit for sale in Vancouver. In fact prices of tired old units are dragged upwards by speculators doing Buy and Flips after a lick of paint and new cabinets.
https://www.rew.ca/properties/R2221367/6...type=property_search&search_id=603129226
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