I prefer to go with the facts. Canadian facts...
"The Ghost City
Stats Show Alarming Number of Vacant Homes
… Perhaps an issue we can all agree on is the number of empty homes never lived in. A recent report from Better Dwelling highlights 10% of homes being resold in Vancouver have never been lived in. Like this one at 1235 West Broadway, built in 1989 but according to the Realtor has had an impressive 27 year vacancy.
… From January 2016-October 2016
450/968 (46%) of condo sales were sold as vacant.
… To add to this, the number of active listings in the Brighouse marked as vacant sits at a healthy 40%. Make no mistake the number of vacant listings is obviously higher due to sellers choosing to sell the home as vacant vs tenanted or even owner occupied. Many times it can make a sale easier. But still, 46%?!
In comparison, Vancouver condos sold as vacant was 25%. Current vacant listings in Vancouver sit at 27%. Still an alarmingly high number, but pales in comparison to The Ghost City.
Is more supply really the solution if much of it is left empty? Perhaps other municipalities need to get serious. Time for Malcom Brodie and the gang step up and do their job in The Ghost City, I mean Richmond…”