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Builders are doing a damn fine job of making sure that the supply of reasonably affordable housing ‘inner city’ gets eaten up. I call it a travesty, but apparently some people call it progress. Buy up a single family home for $400k, tear it down and build 3 story duplex/‘townhomes’ and sell them for 600-700k.
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Definitely clear that more needs to be done to address the missing middle. Many of those $400k single family homes need serious renovations, which puts the real price higher. Much of the inner city housing supply is in desperate need of a refresh, but it seems developers can only make a profit on a) 20+ story apartments, and b) expensive infills. Lack of affordability definitely helps push people (families especially) to the outskirts of the city.
The Sprawl had an interesting write-up about it the other day.
https://www.sprawlcalgary.com/calgar...rbs-affordable