06-11-2015, 11:49 PM
Copy-pasting my thoughts on that article from elsewhere:
Well, for starters, these towers were fulfilling pent up demand from the past few decades. Students shouldn't *have* to look at places at Erb/F-H. And the towers currently being built are to a much more flexible standard than the first few. Instead of purely 5-bedroom units, they're now going to be 1/2/3-bed units that are much more appropriate for the general "Young Professional" crowd.
Also, supply glut? Sounds like an overdue correction in rent prices to me! $550 for a bed with 4 other roommates is madness.
The correction in rent prices is already happening, actually. I was paying $550 in 2007 in an old shared house (5 people) with a massive gas bill (+hydro, +internet) on top of that.
Now $550 gets you a room in a relatively new build apartment with most utilities/internet included.
Well, for starters, these towers were fulfilling pent up demand from the past few decades. Students shouldn't *have* to look at places at Erb/F-H. And the towers currently being built are to a much more flexible standard than the first few. Instead of purely 5-bedroom units, they're now going to be 1/2/3-bed units that are much more appropriate for the general "Young Professional" crowd.
Also, supply glut? Sounds like an overdue correction in rent prices to me! $550 for a bed with 4 other roommates is madness.
The correction in rent prices is already happening, actually. I was paying $550 in 2007 in an old shared house (5 people) with a massive gas bill (+hydro, +internet) on top of that.
Now $550 gets you a room in a relatively new build apartment with most utilities/internet included.