From The New Yorker:
“… cities that planners thought would hollow out and become obsolete have instead become magnets for increasing concentrations of wealth. The more expensive they are, the more closed they become to everyone but those who already have money—pushing them to become more expensive still.
“In turn, imperial cities become wellsprings of resentment both for residents who can no longer afford them and for those who live outside and see the concentration of wealth mainly in the light of their television screens.”
City planners and politicians create too many policies and not enough land nor density and as a result push city prices higher and higher. Here is just one tiny examples of many, namely the BC building code for staircases, why prices will remain sky high in Vancouver – and many other cities: http://www.prestprop.com/2016/08/19/creating-affordable-housing-supply-modifying-building-code/
Where is the task force to eliminate certain code requirements ? Where is the density task force ? Where is the land creation task force ?