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For months the government had been in denial over the issue: overblown, isolated to a few neighbourhoods, it said. Since then its approach has gone from "the market will correct itself," to a "bold action plan," to legislating a retroactive 15 per cent tax on foreign ownership.
Design Pics / Corey Hochachka
Many people are thinking: Vancouver embraced density, so where's the affordability? If last year's speech was controversial for being blunt about how we need to change our housing expectations to live in the city, this year's speech was surprising for another reason -- Bob Rennie insinuated that Vancouver was inevitably going to get too expensive for middle-class people.
According to Martyn Brown, "No corporation, no industry, no union gives the level of money that they give to politicians without expecting special consideration in return, and they do get it." Here's a sampling of what "special considerations" might mean.
For decades, new development in this city has been isolated to busy main streets and transit corridors and while these are logical areas for growth, it hasn't created a large enough land supply to meet the demand for housing while also driving the price of land to astronomical levels.
"I'd be interested to know where the mayor and Bob Rennie are getting their information from."
The Rennie Group
The rally was organized by Vancouverites for Affordable Housing.
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"It's not about foreigners. It is speculation we should be concerned about," says Bob Rennie.
In Vancouver, less than one in five eligible voters re-elected Gregor Robertson in 2011. In Victoria, less than one in six re-elected Dean Fortin. In Nanaimo, Kamloops, and Prince George, less than one in seven elected their mayors.
The future of Metro Vancouver's real estate lies with baby boomers who hold an astonishing $163.4 billion in mortgage-free property, said the city's "condo king" in an annual address. "What will be th...
Some sharply pointed memes are criticizing a "suggested $25,000 per person donation" lunch organized by a prominent condo developer for Vancouver Mayor Gregor Robertson and his party. The Province rep...
Vancouver's property moguls are in a tailspin following this week's federal budget decision to cut off the valuable Immigrant Investor Program that has proved hugely popular with wealthy Asians lookin...
Tony Osborn Architects
Vancouver's real estate will split into two markets over the next 15 years, and both of them will be financed by baby boomers, a prominent developer said Thursday. Condo king Bob Rennie told an Urban...
The Vancouver Art Gallery could be rebuilt as a "welcome mat" for downtown if one architecture firm gets its way. The gallery has outgrown its space, leading many people to float ideas on where it sho...
Does it strike anyone as odd that Vancouver is the kind of town where we turn to someone called the Condo King for reliable advice on real estate? Apparently not. It goes without saying that Bob Rennie knows Vancouver residential real estate better than anyone, and he is always a terrific interview. Most of us understand at some level that he's not exactly impartial, but few seem to grasp just exactly how his opinions might be coloured.