Letter: If developers really cared about affordability, they’d be hailing downturn in prices

Re: “Lower Mainland's presale home absorption rate sees dismal April: report,” online, May 6.

The Courier’s recent article about home presales in the Lower Mainland quotes that “approximately 5,000 concrete units within 17 development projects have postponed their sales launches and are instead opting to await for more favourable market conditions.”

article continues below

The development industry lobby has been opining for years that its primary goal is to make housing more affordable — and the only solution to make housing cheaper is to build more supply. Fast forward, sales have softened and prices have dipped. If the development industry had truly been trying to create affordability shouldn’t it be hailing this downturn in prices? The fact that developers are now holding back supply awaiting the return of higher house prices before selling suggests that the industry had simply been virtue signaling all along.

David Carman,

Vancouver

 

Read Related Topics

Comments

NOTE: To post a comment you must have an account with at least one of the following services: Disqus, Facebook, Twitter, Google+ You may then login using your account credentials for that service. If you do not already have an account you may register a new profile with Disqus by first clicking the "Post as" button and then the link: "Don't have one? Register a new profile".

The Richmond News welcomes your opinions and comments. We do not allow personal attacks, offensive language or unsubstantiated allegations. We reserve the right to edit comments for length, style, legality and taste and reproduce them in print, electronic or otherwise. For further information, please contact the editor or publisher, or see our Terms and Conditions.

comments powered by Disqus

Money laundering inquiry in B.C. POLL

Do you support the province's inquiry into money laundering activities?

or  view results