Close X
Wednesday, December 4, 2024
ADVT 
Interesting

25% Of Vancouver Homes Could Be Torn Down By 2030, New UBC Study Finds

Darpan News Desk, 21 Feb, 2017 12:49 PM
    VANCOUVER — An architecture professor at the University of British Columbia says about a quarter of detached homes in Vancouver could be torn down in just over a decade.
     
    Joseph Dahmen has created a tool that forecasts how many homes could be demolished in the city by 2030 — victims of the recent surge in property values.
     
    Dahmen's tool estimates what he calls relative building value, which is how much a home is worth relative to the value of the land it sits on.
     
    His research finds older homes have lower values when compared with land prices, and a falling relative home value means it stands a greater chance of being razed and replaced.
     
    Given the recent, rapid rise of Vancouver real estate values, half the single-family homes in the city already have relative values below 7.5 per cent, which Dahmen and fellow number crunchers say creates a more than 50/50 chance the house will face the wrecking ball.
     
     
    They say that by 2030, if relatives values continue to plummet, 25 per cent of all single-family homes could be replaced with houses that maximize size.
     
    "It's not clear how that will help affordability," says fellow researcher and mathematician Jens von Bergmann in a release.
     
    "We should ask ourselves how to replace these teardowns with more units of ground-oriented, family-friendly homes on each lot."
     
    Dahmen and von Bergmann developed the teardown predictor tool using municipal data and B.C. Assessment records on detached homes bought and sold in Vancouver between 2005 and 2015.
     
    A news release from the University of British Columbia says the two compared land value, building value and lot size with variables such as whether the property had been torn down a couple of years before or after the sale.

    MORE Interesting ARTICLES

    Watch: Dog Says Goodbye To Her Dying Owner So She'd 'Know Why He Never Came Home'

    Watch: Dog Says Goodbye To Her Dying Owner So She'd 'Know Why He Never Came Home'
    Heartbreaking video captures dog’s final goodbye to dying owner on hospital bed

    Watch: Dog Says Goodbye To Her Dying Owner So She'd 'Know Why He Never Came Home'

    Hair-Raising Video Shows What Not To Do When You Spot A Tiger In The Wild

    Hair-Raising Video Shows What Not To Do When You Spot A Tiger In The Wild
    The nail-biting video, shared on December 4, shows exactly what you shouldn't do when you come face to face with a tiger in its natural habitat. 

    Hair-Raising Video Shows What Not To Do When You Spot A Tiger In The Wild

    M S Dhoni Instagrammed This Pic Of Daughter Ziva, Loaded With Cute

    M S Dhoni Instagrammed This Pic Of Daughter Ziva, Loaded With Cute
    Daddy Dhoni posted this picture of his 10-month-old looking delightful in a pink dress and flower headband. She's also holding a phone in her hand, as if she's talking to someone.

    M S Dhoni Instagrammed This Pic Of Daughter Ziva, Loaded With Cute

    It Will Cost 20 Lakhs To Fly World's Heaviest Person To Mumbai For Surgery

    It Will Cost 20 Lakhs To Fly World's Heaviest Person To Mumbai For Surgery
    The world's heaviest person, Iman Ahmad Abdulati, has suffered all her life because of her weight. Now, she will have to pay a heavier price if she wants to turn her life around with a life-saving surgery in Mumbai.

    It Will Cost 20 Lakhs To Fly World's Heaviest Person To Mumbai For Surgery

    Saskatchewan Researcher Helps ID Feathered Dinosaur Vertebrae Encased In Amber

    Saskatchewan Researcher Helps ID Feathered Dinosaur Vertebrae Encased In Amber
    REGINA — Researchers say they have found the 99-million-year-old tail of a theropod dinosaur preserved in amber and a Canadian is key to the discovery.

    Saskatchewan Researcher Helps ID Feathered Dinosaur Vertebrae Encased In Amber

    Vancouver-Based Band Delhi 2 Dublin To Reveal 'Hidden World Of Bhangra' In A Documentary

    Vancouver-Based Band Delhi 2 Dublin To Reveal 'Hidden World Of Bhangra' In A Documentary
    The electronic pop-bhangra fusion band launched the official music video of "We're All Desi", shot with the local cast and crew in Dharavi slum earlier this year. Now, they are working on a documentary on bhangra -- a genre of Punjabi dance and music.

    Vancouver-Based Band Delhi 2 Dublin To Reveal 'Hidden World Of Bhangra' In A Documentary