Apparently someone published a terrible research paper. Even if you have mostly correct numbers, you still can’t interpret it right. It’s the difference between science and arts.
I think Kerry Gold misunderstood Andy’s study and his intentions. The supply isn’t sufficient; it’s more and more misallocated to high end multi-family than low end properties and rentals. Further, the fewer RS properties available, the higher prices remaining RS properties become. However, the measure of demand isn’t optimal in this study, and in my discussion with Fernando and Jens on Twitter, demand is hard to define and measure.
In other words, if we don’t know how to accurately measure demand, there is ought to be some inefficiency of land use and unaffordability. So, how to address demand, and how to match demand with strategic supply? Also, how to incorporate all common modern urbanism designs into supply management?
We don’t know the right forms and flows of urban planning, in Vancouver. “Wealth” indeed is the center of the problem, but do we look elsewhere for other solutions than urban planning?
I hope to hear some candid answers in the near future. Time is running out, given higher risks of global economic crash.