Can UDI or NPA or REIBC or any other advocate of more supply, supply, supply answer this question in a way that is intuitive, simple to understand and correct? Otherwise, why should anyone believe them – particularly those groups who will be out in force to fight any significant rezoning of their RS-1 neighbourhoods?
From Business in Vancouver:
“We clearly need a regional housing strategy with more homes for more people,” she added. “That means more high-rise apartments along rapid transit corridors and more townhomes, rowhomes [and] multi-family low-rises.”
But recent studies show the reverse is true: fewer people can afford to buy condominiums in the Metro suburbs that have seen the greatest increase in supply over the past two years.
Spurred by the extension of rapid transit, Burnaby, Coquitlam, New Westminster and Surrey have seen explosive growth in strata projects, but they all share something else in common: as the residential towers ascend, housing affordability has eroded.