I love this "For a long time in Vancouver, this sort of ever-increasing price of homes always bailed us out in terms of those layered costs on development, but we've hit a bit of a reckoning point in terms of hitting the upper limit on those costs and how much the price of rent can contribute to that". Lean times means it's time to cut the bureaucracy at city hall.
Is there a need for some sort of happy story about how construction workers are much better paid and have better work conditions now? Or one about how the workers are about the same, but the construction company owners are now all rich and buying boats?
I mean, "construction costs" are just construction company business, and construction worker paycheques. The money has to be going somewhere. But where?
Afraid it's not workers and it's not developers (quite a few of them are going bankrupt). Three factors that come to mind: higher interest rates, higher material costs, and higher development charges.
I love this "For a long time in Vancouver, this sort of ever-increasing price of homes always bailed us out in terms of those layered costs on development, but we've hit a bit of a reckoning point in terms of hitting the upper limit on those costs and how much the price of rent can contribute to that". Lean times means it's time to cut the bureaucracy at city hall.
Is there a need for some sort of happy story about how construction workers are much better paid and have better work conditions now? Or one about how the workers are about the same, but the construction company owners are now all rich and buying boats?
I mean, "construction costs" are just construction company business, and construction worker paycheques. The money has to be going somewhere. But where?
"The money has to be going somewhere. But where?"
Afraid it's not workers and it's not developers (quite a few of them are going bankrupt). Three factors that come to mind: higher interest rates, higher material costs, and higher development charges.
morehousing.ca/material-costs
morehousing.ca/metro-van-budget