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.
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."
"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
Some sharply pointed memes are criticizing a "suggested $25,000 per person donation" lunch organized by a prominent condo
Vancouver's property moguls are in a tailspin following this week's federal budget decision to cut off the valuable Immigrant