The Vancouver housing market has generated a considerable amount of buzz in recent years due to its ever skyrocketing prices. I came across of mapping and statistics application by Mountain Math that shows the amount of single family homes have been demolished in last 30 years and predicts which homes will be demolished in the 15 or so years.
To me the results are astonishing. 63%!
I really liked the explanation as to why so many building are being demolished:the Relative Building Value or "the percentage of the market value of the property that is attributed to the physical structure of the house." I had an understanding of the "Location, Location, Location" concept but it is shocking to see the percentages graphed out. This concept makes the reasons for tearing down so many houses clear: to build homes where their monetary value better matches the land they are on.