The City of Vancouver Mayor’s Task Force on Housing Affordability has released an interim report titled Bold Ideas Towards an Affordable City. The report explores strategies aimed at addressing affordability for low to moderate income households in Vancouver – households earning between $21,500 and $86,500 annually.
The Task Force has developed 4 recommendations:
- Increase the supply and diversity of affordable housing
- Enhance the City’s and the community’s capacity to deliver affordable rental and social housing
- Protect existing social and affordable rental housing and explore opportunities to renew and expand the stock
- Streamline and create more certainty and clarity in the regulatory process and improve public engagement
Numerous strategies are discussed, including boosting density in traditional single-family neighbourhoods and around transportation nodes and arterial streets; creating a City-owned housing authority to leverage city-owned land; and forming a community land trust and a pension-fund-backed financing agency. The report even introduces the idea of creating a small number of rental units on industrial lands.
Full Report: The City of Vancouver Mayor’s Task Force on Housing Affordability: Bold Ideas Towards and Affordable City
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People have been praying for a bulbbe in Canada for the past 5 or so years. Today the prices are now well beyond their reach. They had the money but were betting for a bulbbe and lost that bet along with any hope for home ownership. Those that bet the market would heat up have $100 s of thousands of dollars in their bank accounts. My mom had no savings but all her money went to her home. Today she owns a house outright with over $1,000,000 in her account.