Did you go to the emergency town hall meeting on housing in Vancouver last night? David Eby hosted with seating for 650, with the CBC reporting attendance of over 700.
“These are serious issues, this is a major crisis, and we want the provincial government to take it seriously,” said NDP MLA David Eby, who organized it.
The event started with Eby citing a long list of media stories highlighting questionable real estate practices and how housing practices have caused residents to leave the region.
Eby said the region’s real estate is governed by “runaway speculation” that is “unpoliced, unregulated and rampant.”
The CBC article has a live blog from the event if you missed it and are curious. Will events like this have any effect on Vancouver house prices or will non-owners eventually move away leaving the city as a home owners paradise?
Concerned about the housing market in Vancouver and think something should be done about affordability? You probably believe foreign buyers are partly to blame for running up prices.
You’re probably a racist.
Unfortunately it seems we live in a city full of racists as more and more people express concerns about things like assignment flipping, livable teardowns and empty homes. Or at least you can call them racists in an effort to shut down the discussion.
David Fine writes in the Huffington Post:
We are both assured that foreign investment is actually not a significant issue and at the same time, by the same people, told that any restrictions on foreign property investment would cause serious damage to our home equity, the construction industry and the residential sales industry.
Guess what, it can’t be both! There really is no doubt that foreign property investment is a significant part of home sales in Vancouver and real estate companies know it. They have offices in China and appeal directly to offshore buyers through advertising in Chinese media. It’s big business and it’s fuelling rampant speculation.
This is about foreign money, not foreign people. We have duties and tariffs on all kinds of foreign goods and industries to protect our economy. Why nothing on our homes?
Read the full article here.
Patriotz pointed this out in the weekends open topic thread:
Tomorrow there will be provincial by-elections in Van Mount Pleasant and Coquitlam Burke Mtn. Both former MLA’s ran in the recent federal election – for the NDP (won) and Conservatives (lost) respectively.
What do the candidate websites have in common? None of them have anything to say about housing. For example in Coquitlam Burke Mtn which is the only real contest:
However I think this bizarre paragraph by Issacs on “Sharing Economy, Growing BC Tech” is notable:
I will advocate for a Sharing Economy to optimize new services for families – the Ubers, the AirBnBs, the Lyfts. A diverse economy means being open to new ideas and technologies. A Sharing Economy encourages the tech sector in BC, which helps create jobs and generates investment. It starts by giving British Columbians the freedom to participate as entrepreneurs or consumers or both!
So BC’s high tech future is operating your car as a taxi or your house as a hotel!