Morning Buzz: Vancouver's Affordability Crisis...

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Shangri-La Vancouver Skyline

Vancouver is the most expensive place in North America and one of the most expensive housing markets in the world. Although we are now reaching the pinnacle of the affordability crisis, the city has always struggled with this and will continue to do so. So, Vancouver issues an affordable housing report. Another useless report that will do very little to solve the crisis. Why? Firstly, unless this is somehow government regulated and controlled it won’t work. Speculators will lineup, snatch these units, make them high end and voila affordability gone! After all, this is the same city where someone paid close to $600,000 for a glorified, albeit very nice, ground level basement suite near Kingsway and Knight. Secondly, higher paying jobs need to move into the city. Let’s hope the recent announcement of new office buildings helps with that.

The government is doing some things right.  Currently they are building 14 social housing only buildings in the city, however, the city needs to shift its focus to the renters and low to middle income earners or this city will see an incredible drain of talent move.

I guess this is the price we pay for being so damn livable. I just hope we don’t become a resort city. The time has come to densify outside of downtown. Apologies in advance to all the people that will lose their precious views as a result of the inevitable.

Another one bites the dust. The Ridge Theatre is closing down as it meets the same fate as other single screen theatres in the city. Heck even Empire Theatres at Oakridge shut down to make way for Crate & Barrel. In the world of Netflix, VOD and downloading, it’s safe to say the era of single screen theatres has past. It’s just a shame they couldn’t be preserved and used for alternative uses.

Windmaggedon! Doesn’t have the same ring as Snowmageddon. I prefer Windcouver. Power outages, ferry cancellations, Stanley Park closures. Just another day in wacky weather Vancouver.

 

Image by Shogun_X

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