then you have: - airbnbs taking supply away - financialized real estate speculation means all condo units are miniscule speculation vehicles - development industry has consolidated so they only want to do new tract development in the burbs OR micro condos for investors to rent on airbnb/students - ThreadSky

phillmv.bsky.social • 3 days ago

then you have:
- airbnbs taking supply away
- financialized real estate speculation means all condo units are miniscule speculation vehicles
- development industry has consolidated so they only want to do new tract development in the burbs OR micro condos for investors to rent on airbnb/students

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interfluidity.com•3 days ago

do Canada’s nosebleed average price statistics mask a bifurcation, then, certain favored locations growing super pricey while much of the rest remains restrained? do the price statistics then overstate the problem, or do the pricey places reflect scarcity of desirability for safety, schools, etc.?

interfluidity.com•3 days ago

what should be done? YIMBY complaints, but you just showed us apparently a lot of success by YIMBY criteria. would restarting social housing be your prescription? where and in what sort of form?

jsbarlow.bsky.social•3 days ago

Australian RE has followed a similar path but I haven't dug into similarities outside of fact the queen's on the money

interfluidity.com•3 days ago

Right. And despite the cruelty of Nauru and a general immigrant-phobic vibe, they also take a lot of immigrants as a percentage of population, i think? Do we need to give MAGA intuitions about immigration and housing more credit than we want to? 1/

interfluidity.com•3 days ago

Why haven’t these big, land-rich countries been able to stabilize housing prices holding constant safety and amenity levels? I want to say the MAGA view is dumb, because there’s no inherent scarcity, no bottleneck immigration must clog, and yet actual recent experience seems not great? /fin

phillmv.bsky.social•3 days ago

re: 👇

ish, pre-covid there was a sharp discontinuity but peri-covid (as money sloshed around the rest of the country) outlying areas are catching up quick.

imho price statistics imho reflect a scarcity in *public investment*. amenities are grossly unequally distributed

https://bsky.app/profile/interfluidity.com/post/3lrv7ad6tvk24

jsbarlow.bsky.social•3 days ago

Rental units are now holding the construction industry up so rents should be dropping soon

jsbarlow.bsky.social•3 days ago

Hard to answer definitively. We have a lot of room up here generally but during pandemic a lot of people left city centers for distant suburbs which drove those prices higher. They are now falling.

phillmv.bsky.social•3 days ago

i’ve a meeting now but this plus no more social housing investment for forty years plus all the normal yimby complaints

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