Housing affordability is one of the most urgent challenges facing our city and our region.

The average price of a detached home sold within the City of Vancouver has now surpassed $2.5 million, and recently-raised concerns about the rapid resale of homes across the region highlight how we need new tools from the provincial government to properly manage BC's real estate market.

 
The Mayor has brought forward a motion asking City Council to support his call to the provincial government to take significant new steps to make housing more affordable including:
  • A speculation tax, to slow down the practice of flipping houses, which treats housing as a commodity and intensifies the price escalation.
  • A luxury housing tax, to ensure that the very wealthiest buyers or investors pay an added price, which (like a speculation tax) would raise new funds to make housing more affordable for those on low and modest incomes.
  • Far better tracking of data on domestic and foreign investment and absentee ownership.
Additionally, the Mayor recently announced that Vancouver will offer 20 new sites of city-owned land to meet the urgent need to build new affordable housing in our city. Valued at $250 million, it’s the largest contribution of local land for affordable housing in Vancouver’s history – and possibly in Canadian history.
 
Join Councillor Geoff Meggs, and the Vision team to discuss our proposals to address housing affordability and to share your ideas on what steps the City can take to.
 

Early Council - Addressing the urgent challenges on housing affordability

Monday, February 29th, 2016 | 7:30 am - 9:00 am

Lost + Found Cafe | 33 W Hastings Street

Includes muffins and coffee by donation


We know there is no single solution to the challenges we face on housing affordability and we're continuing our work to use every available resource to get new affordable housing built, but we need all levels of government to step up to keep housing within reach for families on low, modest and middle-incomes.

 

We hope you'll join the discussion to address the urgent challenges we face on housing affordability

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Will you join the discussion?