“The average home costs 9.5 times Vancouver’s median household income of $63,100, yet there is not a single paragraph in the plan about stimulating economic growth to raise incomes.”

‘Regional growth plan ignores economy, lacks coherence’, Vancouver Sun, May 14 2011, is critical of Metro Vancouver’s “ephemeral” ‘Regional Growth Strategy’. Excerpt from the critique:
“Arguably one of the most serious challenges facing the region is affordable housing, yet there is little in the 80-page document that directly addresses it beyond a reference to the 2007 Affordable Housing Strategy, which had a 10-year timeline. Worse, although the regional government cannot compel municipalities to build residential projects, it can stop them from doing so if they don’t comply with the plan’s restrictive land-use policies.
Affordability is measured as a multiple of the median household income and Vancouver ranks third among the world’s least affordable cities. The average home costs 9.5 times Vancouver’s median household income of $63,100, yet there is not a single paragraph in the plan about stimulating economic growth to raise incomes.”

Use your imagination. There is an alternate solution to the problem. – vreaa

10 responses to ““The average home costs 9.5 times Vancouver’s median household income of $63,100, yet there is not a single paragraph in the plan about stimulating economic growth to raise incomes.”

  1. I can haz raise?

  2. pricedoutfornow

    Yesterday on CBC radio they interviewed yet another “real estate expert” about high housing prices. And yet again, his solution to Vancouver’s problem of high housing prices? “Sorry people, you’ll just have to move to Maple Ridge. And we’ll have to figure out a way to build roads so you can drive into Vancouver for work every day.” Definitely a great solution. I’m tired of hearing this from these real estate guys-because they never want to admit that prices should go down, or that maybe we should rent instead of buying. Funny how renting is never an option, but I guess that would put the real estate agent out of business.

  3. The HAM is strong with many people in Vancouver, or at least the believe that HAM will feed them all until forever. Even by the ones who perceive it as unaffordable and feel priced out.

    The next three or four years will be more than interesting and I have the feeling a lot of teeth gnashing and blood and tears will be part of the landscape.

  4. The Regional Growth Strategy has to be approved by all 21 municipalities to become adopted. Many municipalities (Burnaby being the most prominent) believe that affordable housing is not a municipal issue at all. They believe that if municipalities take on affordable housing, they are being downloaded upon. The fact that the Strategy had any policies about affordable housing at all is a minor miracle. The plan it is replacing (Livable Region Strategic Plan) has no housing policies at all. It’s not surprising that one of the groups that was opposed to including affordable housing policies in the RGS is the Urban Development Institute as they are dead set against having to provide affordable housing in their market developments. The Regional Plan does not restrict where housing can or can’t be built (except in the ALR); the Regional Plan has no role at all with this matter. The writer of the editorial does not know what they are talking about.

    The Regional Growth Strategy does not contain policies about income because it is not an economic plan, it is strictly a land use plan. The provincial legislation is clear on this.

  5. granite countertop

    The story about preserving industrial land was interesting:

    http://www.vancouversun.com/business/Metro+Vancouver+battles+preserve+dwindling+supply+industrial+land/4794022/story.html

    They were talking about residential real estate speculation like it’s a bad thing. They’re allowed to do that?

    Vancouver needs land to have jobs. If we’re out of land, it follows that we’re out of jobs.

  6. Funny…….but seriously speaking, there a few people who do follow mantra…..

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