Vancouver released its proposal for the troubled Downtown Eastside neighbourhood Thursday at a price tag of more than $1 billion.
Over the past decade, the average price tag of new homes in Canada has almost doubled, and homeownership remains hindered by skyrocketing personal debt.
If you are among the more than half of Vancouverites who rent their homes, having to fork over a hefty chunk of your income to a landlord every month might elicit groans or even disdain as prices climb.
Downtown Vancouver may have the equivalent of nearly two-dozen 30-storey condominium towers sitting empty, serving as merely oversized “safety deposit boxes” for the wealthy, according to researchers. But blaming the city’s severe housing prices on absentee foreign investors could just be “this decade’s version of the Yellow Peril,” a UBC business professor has warned.
Vancouver’s housing crisis worsened in the Downtown Eastside in the past year, according to a report released yesterday by an activist housing group, with fewer and fewer Single Resident Occupancy (SROS) rentals within reach of many residents’ budgets.
SALT SPRING ISLAND, BC – Faced with major housing shortages, people looking for affordable lodging on Salt Spring are being forced to choose between homelessness and losing their support network