Five Myths About Affordable Housing
"Think the falling real estate market is going to solve B.C.'s housing affordability problems? Think again: Home prices would have to plunge 55 per cent before ordinary families will be able to buy homes in this market. And if real estate sinks that low, so will family incomes."
Myth #1: The market correction will restore affordability
Myth #2: As home prices fall, so will rents
Myth #3: Empty condos will loosen up the rental market
Myth #4: Build more homes and prices will drop
Myth #5: The government needs to subsidize more housing