Quote:
Originally Posted by Buggys
Yes, agree that there is currently little if any cross shopping. However, if land availability pushed the cost of singles exorbitantly higher than apartments/condos, perhaps cross shopping may increase sooner.
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Well, it wouldn't technically be cross-shopping since not many could afford a single; a condo apt would just be the default. If this happened though the prices of apartment condos would also be much higher than what they are now, even higher than what singles are now, so there would be a larger housing affordability issue.
Ideally the market would shift and ask for larger multi-bedroom units while also maintaining some demand for new greenfield singles/units. Overall a balanced housing market is healthier than one that is dominated by one housing type and will keep total housing more affordable.
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