An article published by Vancouver Sun’s Kelly Sinoski talks about what we all know-finding an affordable detached home is pretty impossible. You have a handful of options including moving to the suburbs, buying a condo, or trying to find ground-oriented town or row houses.
The Urban Land Institute which does research on population and land-use states that in the 1990’s their studies indicated that Metro Vancouver would have a housing shortage “by 2021 unless it built 21,000 units annually-with 13,400 of those being ground-oriented,and 7,700 of them apartments”. The ULI was suggesting that for every apartment built, there needed to be 2 ground oriented townhouses or rowhouses.
Why? Because there was a common assumption that the baby boomers, those born between 1946 and 1964 would be downsizing into those row houses. Trouble is those boomers didn’t move from their single family houses, which may have been a good thing…
View original post 160 more words