this post was submitted on 02 Oct 2024
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no it's the lack of building supply and market liquidity.
Shit like airbnb is going to have a more influential effect on the market than something like blackrock.
how is the market liquidity like in canada? I know the housing market is in a much worse state, but from i understand, it's the same problem. And if you want to argue for mid density housing, by all means go for it, i'm not against it. But at the end of the day if we built more housing, there would be more liquidity in the market, and people would be buying more houses.
Generally the market will push towards having some level of unmoved product, so it would make sense that there are unsold houses in a desparate market, people just aren't willing to pay for it. If it's too high, nobody buys anything and product simply doesn't move, which from what i understand is roughly where canada is right now.
The US has a similar problem, but it's mostly zoning and NIMBY types out here. Fixing zoning and incentivizing new building would really help.