More than 50% of households in Vancouver rent their home, and the vacancy rate is below 1%.
Here’s an another indicator of market demand.
World of Renting
More than 50% of households in Vancouver rent their home, and the vacancy rate is below 1%.
Here’s an another indicator of market demand.
We ought to ask: “What works well in other jurisdictions?”
For example in red state TEXAS
Here’s what Austin, TX does http://www.austintexas.gov/department/housing-developer-assistance
Many federal AND Texas funding options incl cheap financing.
Just clone what works. No need to re-invent the wheel.
UBC and SFU also develop rental housing on their land below market rents. Why is the city of Vancouver not doing that on their various land parcels they own ?
MUCH could be done to build far FAR more rentals. This debate needs far more attention than higher taxes that mainly suppress high end home prices. It does little, if anything, to provide more affordable rental housing.
[Maybe if I find the time I write more on what works in Texas ]