Basically half the city doesnt exist in terms of population vs housing, and you dont see anything wrong. lol. I'm sure China has a few ghost cities it wants you to invest in as well, should go check it out.BlueSolstice wrote: ↑ 37% of condos and 15% for detached adds up to 30%-ish non-owner occupied rate. Add maybe 10% "non-market housing" (social housing, co-ops, group homes, etc), we have 40% of population not owner-occupier. That means 60% owner-occupier. For a metropolitan area, I don't see anything wrong with this number. Yan is really making a big deal out of nothing.
UBC and endowment lands are close to a university. For what it's worth, condos near McGill university of Montreal probably also have low owner-occupier rate. Vancouver just don't have a large stock of older rental apartment like Montreal.
A run out the door in Vancouver is more viable than previously thought, and 40% of the market being ghost owners, means a majority of them will attempt to drop those assets like stocks as soon as something major spooks them.
Vancouver's walking on a tight rope is those numbers are true.