A controversial proposal has incited new debate about the causes of Vancouver's skyrocketing housing prices. Potential solutions depend on an accurate diagnosis.
The debate over foreign ownership of real estate is heating up in Vancouver, after B.C. Greens leader Andrew Weaver called for the city to limit property ownership to Canadian residents.
The CBC News broke the news about Weaver's proposal on January 9, noting that Weaver is following the model provided by New Zealand. "B.C. Finance Minister Carole James says the government is looking at different options to cool the housing market but a ban on foreign investors isn't one of them," according to the article.
Clare Hennig writes a follow up article, focusing mostly on the case against real estate protectionism. "Nathan Lauster, an associate professor of sociology at UBC and a blogger on city issues, says banning foreign investment misses the larger issue of local real estate speculation," writes Hennig.
Recent news picked up Planetizen on the subject of Vancouver's housing market, and the policies crafted in response, would seem to support the words of both James and Lauster. In December 2017, the city released a major housing policy package that focuses on the rental market for solutions. In November, market analysis showed that a 2016 law taxing foreign real estate buyers had not managed to reduce housing prices in the city.
Read the full story: It's 'really problematic' to blame foreigners for housing crisis, says UBC sociologist
Luxury Condos for Sale in Vancouver as Non-Resident Owners Balk at New Taxes
A tax on non-resident property owners is working as it's intended, as a wave of luxury condo units hit the real estate market all over the city of Vancouver.
Analysis: Vancouver Housing Affordability Worsens Despite Foreign Buyer Tax
The trends in the Vancouver housing market have reverted back to normal, after a foreign buyers tax that went into effect in 2016 had an initial effect on parts of the market.
Fast-Rising Rents: Cause or Effect of Institutional Real Estate Investors?
More media attention for the growing influence of large, institutional investors on the housing market.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Amtrak, CN end decades-long dispute with eight-year agreement
The new operating agreement establishes an updated framework for the companies to work together, including processes to resolve disputes.
Nation's most wind-powered state turns to coal as data centers increase energy demand
For the first time in decades, Iowa has increased its generation of coal power.
Alabama scores up to $2.5 billion federal loan for largest infrastructure project in state’s history
The Mobile River Bridge and Bayway Project aims to ease congestion at Alabama’s worst bottleneck.
Trump is considering data centers on 6 states' public land — some state officials say they had no idea
If the administration approves the proposed projects, data center and data center-related developments will cover 17,600 acres of public land.
Despite court ruling, Trump is keeping nearly all wind projects in the US on hold
At least 110 wind energy projects have not heard from the government since a federal judge ruled that the Trump administration's freeze on wind turbine clearances was likely illegal.
FREE Course: Walkable City 1: Why Walkability?
After describing his path towards focusing on walkability as the essence of good planning, Jeff Speck marches through his five principal reasons for making more walkable places.
Reinventing Malls: Planning Alchemy—Turning Gray Fields Into Gold
The course focuses on the opportunities and imperatives that shape reinvention of mall sites.
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