I am not an economist but I was a self employed business owner for most of my life. But even so the concept of building more units to bring affordability down is a mystery to me. If construction continues with profits forever progressing upwards when do prices begin to fall? Do we assume that when the supply of residential units reach a point of over supply then the ratio of demand drops and prices fall? Why would developers continue to build if that were the case? If prices were to level off or even drop then can’t we assume that building more units would stop until demand increased again to drive prices up. Developers don’t build unless it is profitable. In that case why would prices ever fall or become ‘affordable’? I sincerely wonder if we aren’t being played by the developers in Vancouver.
Vancouver Tenants Union against the Broadway plan is organizing a Rally 5-8pm on May 17th at City Hall. Free BBQ :-)
NO to tenant displacement, Say NO to unaffordable housing. Hope to see many of you there. We need to connect across neighbourhoods and unite our communities to fight the monstrosity of the Broadway plan where I am not seeing enough homework done on preserving our affordable housing and not displacing people who have lived here most of their lives.
I am not an economist but I was a self employed business owner for most of my life. But even so the concept of building more units to bring affordability down is a mystery to me. If construction continues with profits forever progressing upwards when do prices begin to fall? Do we assume that when the supply of residential units reach a point of over supply then the ratio of demand drops and prices fall? Why would developers continue to build if that were the case? If prices were to level off or even drop then can’t we assume that building more units would stop until demand increased again to drive prices up. Developers don’t build unless it is profitable. In that case why would prices ever fall or become ‘affordable’? I sincerely wonder if we aren’t being played by the developers in Vancouver.
Thank you Brian for all your work
Vancouver Tenants Union against the Broadway plan is organizing a Rally 5-8pm on May 17th at City Hall. Free BBQ :-)
NO to tenant displacement, Say NO to unaffordable housing. Hope to see many of you there. We need to connect across neighbourhoods and unite our communities to fight the monstrosity of the Broadway plan where I am not seeing enough homework done on preserving our affordable housing and not displacing people who have lived here most of their lives.