In the midst of a housing supply crisis, thousands of condos in Canada's largest cities are sitting empty. Most, experts say, are less than 500 square feet. ...
Just to make things easier for people.
The video talks about the glut of micro units having issues selling due to how undesirable they are for people actually living in them and not aligning with a more realistic price.
The numbers on why a lot of people can’t hold onto these investments:
Shrinking units, the ones discussed in the video is around ~300sqft:
Substantially less of newer units are owner occupied:
According to the video, the places aren’t being built to be attractive to live in but to be cheap upfront investments for landlords (so not just small but crappy layouts and quality overall), and the majority of said landlords are “middle class” (their words) couples rather than large companies.
You know the system is broken when housing is prioritized and built for the landlords prefences and profits before being built as a functional residence.
You are not logged in. However you can subscribe from another Fediverse account, for example Lemmy or Mastodon. To do this, paste the following into the search field of your instance: !canada@lemmy.ca
According to the video, the places aren’t being built to be attractive to live in but to be cheap upfront investments for landlords (so not just small but crappy layouts and quality overall), and the majority of said landlords are “middle class” (their words) couples rather than large companies.
You know the system is broken when housing is prioritized and built for the landlords prefences and profits before being built as a functional residence.