Quote:
Originally Posted by Changing City
There's no difference in the BC Building Code, which also allows windowless bedrooms.
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Interesting, didn't realize that was the case. In Ontario, the code was updated in the early 2000s to specifically
allow bedrooms without direct exterior windows (previously not permitted), which I had assumed was not the case in BC - particularly as those "inboard bedrooms" seem to be incredibly rare here, even on newer developments. In contrast, I wouldn't be surprised if the majority of post-2000 condo units in Toronto had them.
Quote:
Originally Posted by lio45
Curious why you’d say this? Interest rates are dropping, and we still import way more FNSs per year than what normally fits inside the new housing we manage to build per year, which leads me to forecast that the “housing crisis” is going to get worse, and that current real estate prices are low compared to what they’ll be in the future.
I don’t see PM PP being able to do much about stopping JT’s pet Scheme; the consequences would be too dire. Our economy is now addicted to that influx of Indentured Servants — and they happen to all prefer a roof over their heads.
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Well, as noted in the CBC piece, they aren't selling at the current asking prices. The cap rates don't work out for rentals, they can't (legally) be used for Airbnb, and no one wants to spend half a million dollars to actually live in a glorified closet. They exist for the purpose of investment, but the math isn't pencilling out anymore.
Now, demand for a simple roof over one's head will temper them from falling
too much; and it's possible that if the current growth rates continue that even the micro studios
will eventually be able to fetch $3000+ per month in rent - but I'd place my bets on prices falling quite a bit further before that happens.