In Vancouver its build build build and the investors buy buy buy. You need to make the new build available for people who want to live in them. Simply building more is not enough. Vancouver proves that in spades.
In Vancouver every new unit that is built rents for more than the cities median rent, meaning for every new unit built, rents go up overall. How that is supposed to help with "Affordability" is beyond me.
Until they instituted an un-occupancy tax, many of those units weren't even rented. Local Vancouver businesses were getting killed by big buildings that should have lots of tenants being ghost towns. It reminded me of a mostly empty Beijing apartment building.
