Patriotz posted a link to this article in the Globe and Mail about proposed Laneway housing for Vancouver.
As he points out:
Note bogus headline. Is there a RE “crunch” in Vancouver? Of course not. Rents are falling.
Read the article and you will find that cash-strapped homeowners are planning to build laneway houses to recharge their finances. Running out of land? Nope. Pent-up supply? Yep.
Build baby build.
From the article:
Homeowners who can’t afford to pay their mortgages, parents who want to give their struggling children a place to live, and recession-strapped boomer retirees who want to lower their costs by moving into their own backyards showed up to make the argument that this is a great option for Vancouver.
Builder Jake Fry, whose company Smallworks has been gearing up to build the laneway houses, said he’s getting calls from families like the Woodmans “who are just finding it hard to get by, so they want to downsize and move in with the kids.”
Some residents, including Linda MacAdam, were adamantly opposed during last week’s public hearings. She complained bitterly that the “Vancouver we know and love now will no longer exist” once 65,000 homeowners potentially get the right to add another small house to their yards.
So what do you think about laneway housing? Will this be a good or bad thing for the city and why?