Quote:
Originally Posted by CIA
You lost me at Peak Millenial...
Not everyone's goal in life is to have kids. Even with them, bringing them up in cookie-cutter suburbia isn't universally accepted as the thing to do as it was in the 70s and 80s, especially if the family can afford something better.
What's the population growth of greater Toronto? Even if only 20 percent of the growth choose to occupy non-single family homes for lifestyle preference or financial reasons, that's still going to be thousands of new units every year to meet demand. The typical apartment/condo development has what -- 200 or 300 units? There is literally demand for hundreds of new ones every year.
I'm amazed that building of tens of thousands of single family homes in the 80s was seen as acceptable, but now a small percentage increase in multi-family living and everyone is screaming bubble.  |
Because it is a bubble. Double digit increases every one or two years is not sustainable. Homeowners are qualifying for ever larger mortgages that could send them into default with just a percentage point increase.