Well how livable is the city when lack of units keep driving the price up?
Is it the actual lack of units, or what the units are being used for that's the problem?
1) Some are being bought as untouched domestic investments (why not? You can make out like a bandit never having ever unlocked the front door these days)
2) Some are being bought to rent out. Over-price the crap out of them and if you're lucky, you'll find a sucker to spend $3500/month on your 350 square foot junior; otherwise, refer to #1
3) Some are being bought by micro-hoteliers, wanting to get rich off of AirBNB.
4) Some are being bought to launder money.
With all the cranes this city has seen over the past decade, it's hard to imagine there are a lack of places to live. It's a lack of *affordable* places that's the problem.