A lot of people have a big chunk of their net worth tied up into home equity because it's sort of the "ordained" path to building wealth for the middle class - condos don't see similar appreciation, get hit harder in downturns and are one of the last types of properties to recover in value afterwards.
Start incentivizing treating housing as, you know, a place to live rather than a financial instrument and you'll see plenty more condos.
Start incentivizing treating housing as, you know, a place to live rather than a financial instrument and you'll see plenty more condos.