City of Vancouver’s re:THINK HOUSING Competition Submissions
from VREAA Blog Site
“As part of the work being done by the Mayor’s Task Force on Housing Affordability, re:THINK HOUSING, an open ideas competition, has been launched to generate a broader discussion of possibilities for Vancouver’s affordable housing crisis. Aimed at everyone who has an interest in affordable housing, from the general public, to designers, planners and architects, to philanthropists, non profits and financial institutions, the Ideas Competition seeks to create the space for provocative, bold new ideas that address Vancouver’s affordability challenge head-on.”
Posted in 15. Misallocation of Resources
We note there are no “Educate-the-public-about-asset-manias-and-thus-crash-housing-prices” submissions.
This is a typical waste of time project that Gov’ts engage in .
Since the late 1970’s Gov’t and Developers found that building rental units was not a viable proposition. The last gasp was the MURB program whereby the Gov’ts had tax incentives for the private sector to build these rental units. However in that time period interest rates went up to 22%.
This latest attempt at affordable housing is simply a pipe dream, to give people false hope. A floating Island in English Bay ? OMG ! Affordable Housing is an oxymoron.
Someone will have to pay and subsidize someone else. Duly note the human ranches they seem to imply…hundreds of high- density cages.
As I have noted, we have already overbuilt, good job opportunities have been outsourced, and our population growth is flatlining. What I foresee is all those McMansions will find new lives as rooming houses, and this stock will last approx. 50 years. We have a HUGE amount of these. They will soon outlive the “Single Family Home” use. The market will create this scenario and the market will determine this via affordability.
Gov’ts will try to build a few token buildings, will try to build more overcomplicated “Go Green” versions of the Olympic Village where many things will go wrong.
So, my point is…this has been tried before and failed. What they should do is perhaps perform an economic autopsy and go to the roots causes of Unaffordability. Start with undermining national Sovereignty, allowing Offshore speculation of Residential Real Estate and CMHC mortgage policy that increased prices to a point a major collapse was inevitable. There are many MORE reasons, but that is a good start.
It was an Orgy of Greed, which will impoverish future generations. No Gov’t program can fix it….Gov’t was the problem to start.