I came across this interesting post earlier this morning by Pacifica Partners Inc. suggesting Calgary is ‘Severely Overbuilt’ and thought I’d share it with you.
“In all major Canadian housing markets housing capacity growth has exceeded population increases between 2001 and Sept 2012. Calgary, Edmonton, Ottawa, Montreal and Halifax are what we would consider to be “severely overbuilt” with excess housing capacity of 50% or more than population growth over the same period. Vancouver, Toronto, and Winnipeg, are “overbuilt” with excess housing capacity 20% more than population growth over the examined period”.
“Housing capacity is defined as the number of individuals that can be reasonably housed in new housing units, whether or not a new housing unit sits unoccupied, under-occupied, or over-occupied. Assumptions made may be more appropriate for some markets over others”.
Full post here: Real Estate Supply and Demand Growth
I find this chart interesting and would like to know your opinion. Do you agree with the suggestion that Calgary is ‘Severely Overbuilt’?
