“So we really have ~6 months of active inventory + ~12 months of shadow inventory downtown.”
plus another 1000 units coming online this year
another thing not addressed in the article is that people are realizing that living downtown isn’t all that great a lifestyle – street people pissing on the side of your home doesn’t really make for Shangri-la in most people’s books – “Come on over for dinner, Margie, just ignore the homeless and urine smell on your way in” – families are also realizing that raising Johnie and Janie in the middle of a big city isn’t what they thought it would be – the idea that people shopping in other condo markets will “overflow” into downtown is a stretch IMO
