ville-marie Tour des Canadiens - 50 étages

[swansongtoo]

I haven't looked at the other projects in the area but I'd assume 332 sq. ft. has to be among the smallest units to be built.

[Cataclaw]

Little graph I made showing why prices are so outrageous.

Why is it so expensive to live in the city? Insufficient supply.

Solution: remove barriers to development, improve zoning, provide means for densification, implement a better master plan, improve incentives, etc.

 

There's a lot City Hall could be doing right now to improve the situation but Tremblay is just sitting on his hands... Why isn't TOD being pushed aggressively?!? Where are the metro extensions?!

The Island of Montreal has the capacity to add an additional 1 million inhabitants easily...

 

 

And before economists throw a hissy-fit, I made a typo in the last of text, it should read "quantity demanded exceeds quantity supplied". ;-)

Modifié 7 septembre 2012 par Cataclaw

[Arn_DC]

@Cataclaw

 

Hi, economist hissy-fit coming.

 

The high prices seen in Montreal don't have much to do with lack of supply. They're the result of A. Extremely low interest rates B. No, that's pretty much it.

 

Other factors can play a role, sure, including low supply in some sub-markets and an OK economic climate (at least compared to other industrialized countries), but really, the easy lending conditions are the main driver in Montreal.

[Arn_DC]

And really, do you feel the City is that tough when accepting projects? They seem to be more than willing to green light high-rises. Hell, they're actively pushing to make the city denser.

[Cataclaw]

@Cataclaw

 

Hi, economist hissy-fit coming.

 

The high prices seen in Montreal don't have much to do with lack of supply. They're the result of A. Extremely low interest rates B. No, that's pretty much it.

 

Other factors can play a role, sure, including low supply in some sub-markets and an OK economic climate (at least compared to other industrialized countries), but really, the easy lending conditions are the main driver in Montreal.

 

Hi Arn_DC: We're discussing the same issue but from different angles. I agree partially with what you're saying, but my research leads me to believe that your point isn't entirely correct and that supply issues are indeed an important factor.

All the urban economists I've spoken to explain to me that the fundamental problem over the last several decades is a lack of supply (or rather, that the latent demand for living in a city close to work, services, etc. is very high.) Within the standard North American context we're all used to, interest rates are undoubtedly a defining factor when comparing ourselves to other cities, but I'm talking about prices on a fundamental basic level. If you broaden the context and look at things holistically in very basic terms, the reason why housing costs more in a city versus a suburb is simply because of land values and the relationship between supply/demand. Land values are high because demand is high. Demand is high because some areas are highly desirable and have many services, transportation options, etc. This is why Transit-oriented development is so successful, because it builds desirable communities almost from scratch around a structuring transit system. This in turn takes the pressure off other areas and helps deal with the problem.

 

Lastly, yes the city is doing a lot to green-light high-rises, but it's about more than just building condos downtown. It's about densifying entire neighborhoods across the city, providing transit solutions, building transit-oriented communities, etc. The city just isn't doing enough. Zoning needs to be looked at, transit needs to be funded 5-8x what it currently is, and development needs to be guided accordingly.

Modifié 7 septembre 2012 par Cataclaw

[Maximus]

Pourquoi le marché n'est pas à son point d'équilibre selon vous? Il me semble qu'il est compétitif et que les terrains à développer ne manque pas. Si le prix était plus élevé que son équilibre, qu'est-ce qui empêche l'offre d'augmenter? Il y a plein de zones résidentielle pas encore bâties et les barrières face à la construction de projet ne sont pas très élevés. Ça semble être beaucoup plus les taux d'intérêt qui boostent les prix actuellement.

[ToxiK]

Why isn't TOD being pushed aggressively?!?

 

Ono word: NIMBYs (Not actually a word but rather an acronym, but you get my meaning)

[acpnc]

@Cataclaw

 

Hi, economist hissy-fit coming.

 

The high prices seen in Montreal don't have much to do with lack of supply. They're the result of A. Extremely low interest rates B. No, that's pretty much it.

 

Other factors can play a role, sure, including low supply in some sub-markets and an OK economic climate (at least compared to other industrialized countries), but really, the easy lending conditions are the main driver in Montreal.

 

Les bas prix à Montréal on été longtemps un facteur de stagnation, du moins dans le marché des tours à condos. Maintenant que les prix sont devenus plus intéressants les promoteurs sont au rendez-vous. N'est-ce pas ce phénomène qui nourrit le marché à Toronto depuis tant d'années? Bien sûr les taux d'intérêt joue en faveur des développeurs, puisqu'ils permettent à plus d'acheteurs d'investir dans une propriété plus dispendieuse. Ainsi les vendeurs profitent de la demande pour augmenter leur prix et la roue se met à tourner.

 

Quant aux TOD, c'est un secteur à développer et cela partout où c'est possible. Cela demande cependant davantage de préparation aux niveau des infrastructures, qui doivent être mises à niveau, pour accueillir une plus grande densité de population. Bien sûr une administration plus dynamique et aussi plus transparente serait souhaitable, mais on doit vivre avec cette équipe qui j'espère sera expulsée au prochain rendez-vous électoral.

[FrAgZ]

Pas mal de progrès !

 

[Rocco]

Coudonc ils copient le style du bureau des ventes de l'Avenue ou quoi?