Monthly Archives: March 2016

Prominent Vancouver Architect Bing Thom: ‘The City Has Become A Hotel’ – “I have done pretty well in my business, but I made more money from sitting on my Vancouver property than I made by working an entire lifetime. That tells you something.”

“I asked Bing Thom about the changes. The property boom has, of course, been good for the architectural profession, but Thom, who is now in his early seventies, is troubled by what is happening to his home town. “By all accounts, I have done pretty well in my business, but I made more money from sitting on my Vancouver property than I made by working an entire lifetime,” he said. “That tells you something.” Thom was alarmed that consumption has effectively replaced production as Vancouver’s growth industry. “The city has become a hotel,” he said.
– from The Golden Generation, by Jiayang Fan, The New Yorker, 22 Feb 2016

“That love of speculative gains from land is something that’s part of our province’s DNA. It’s not good for us. We’re finally hitting the point where we see that it has very negative consequences for the majority of the population.”

“…a few dozen Vision Vancouver supporters and other Vancouver residents gathered at a Downtown Eastside coffee shop to hear [Vancouver city councillor] Geoff Meggs speak about “the urgent challenges” of housing affordability and skyrocketing home prices.
“Let’s be honest — for a long time we really enjoyed that ride. There wasn’t a lot of people complaining about the escalation of single-family home values until relatively recently. That love of speculative gains from land is something that’s part of — I think — our province’s DNA and it’s not good for us. We’re finally hitting the point where we see that it has very negative consequences for the majority of the population,” Meggs said.
“It’s not just a crisis for people in poverty. It’s not just a crisis for people who would like to live and work in the city of Vancouver, it’s not just a crisis for those who someday hope to buy a place,” he said, noting that the high market is harming the economy and social cohesion.”

– from ‘Vancouver’s housing market shows signs of overheating’, Vancouver Sun 29 Feb 2016