that's a misguided assumption fabien - that the investor of detached homes care much about the short term ebb and flow of the market.I don't understand your point. Investor will take the money if the market stops growing. Because the investment becomes inefficient or actually costs money.
I personally believe that detached buyers are in the the long haul - 20-25 years plus. They are investing for their children's future...not just for a
shortsighted quick buck.
I dug up my comments about the disappearing detached property from 4 years ago
by eyesthebye » Thu Oct 13, 2011 2:35 pm
very interesting stats.
I had assumed that there were approx 70,000 detached single family homes in Vancouver.
it appears that this is what it was circa 1991 (67,840), and 2006 shows that this was reduced
to 48,365 by redvelopment to multi-family
So my assumption is now backed by stats.
Each year there are fewer and fewer single family homes in this city.
Perhaps if we added the 20,000 SFH that were converted to other we might actually
see some prices reductions and some point in the future.
Just think Vanpro, we're losing 1300 detached homes each year, so we're probably sitting at 43K right now.
In another 15 years the single family detached might be a very rare sight indeed.