There's a reason 2-storeys are the norm for new houses these days. You can squeeze a lot more of those houses in an area than bungalows. And at least in the older areas the bungalows were built wider than they were deep, so you really don't lose much yard space compared to a 2-storey depth-wise, and your lot is almost twice as wide.
I'm a little better versed in comparing the older bungalows in the NE to the older 2-storeys in the NE, so I don't know if this is valid throughout the city, but what I'm saying is definitely true out here.
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