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.
California plans to bury El Niño’s downpour
If the state plays its cards right, it may be able to store a billion acre-feet of El Niño’s water in aquifers.
Desperate measures: Advocates weigh draining Lake Powell to fill Colorado River
Draining the reservoir could reduce evaporation losses by a couple hundred thousand acre-feet.
US buildings threatened, destroyed by fires set to triple by 2060
Researchers found a high fire risk for socioeconomically vulnerable neighborhoods in the American West.
LA residents may be allowed to paint their own crosswalks
Councilwoman Katy Yaroslavsky put out a motion instructing the Los Angeles Department of Public Transportation to study the feasibility of allowing volunteers to paint crosswalks.
Dallas moves to overhaul its zoning code
The city's zoning reform will allow more multi-family and mixed-use developments.
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.
City of Rosemead
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One Hundred Miles
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The Architects Foundation
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Montrose County
The Pocatello Development Authority