When you can generally find, and afford, the type of housing you need in the general area you need it, the local economy and society seem to work better.
But when there’s some sort of imbalance, often a shortage or supply too far removed geographically from demand, it can become a real problem. There needs to be alternative choices (housing types) available and the process of providing those alternatives needs to be more certain and less speculative. Most families could give up a yard but it becomes difficult when asked to give up 2 bedrooms.
Here’s a couple of takes on the repercussions of housing affordability in Vancouver.
Reporting from the Middle Class Vancouver Trenches (Globe and Mail)
A Crisis in Vancouver: The Lifeblood of the City is Leaving (Globe and Mail)