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Originally Posted by Migrant_Coconut
Even once we DO become a global city - right now, we're just ahead of Calgary and behind Seattle - we still need to be home to people who aren't one percenters or even twenty percenters. Everything becoming fast food is bad, but so is everything becoming foie gras with caviar; you're fiddling while Rome burns either way.
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Like it or not a major city will always be home to the wealthy because that's where the best jobs are. You can't accept the benefits of living in a major city while wanting us to go back in time to when we weren't a major city. You can't ask for things to be cheaper back when unemployment was high and the economy worse yet want unemployment to stay low. There are always trade offs.
If you want Vancouver to be like Calgary or another lower tier city, why not just go to that city? Most of us came to Vancouver because we wanted to be in a high tier city. I don't understand people who want to change Vancouver to be like so and so and go downhill. I want us to go up. Sure there's a ton of people here richer than me but I like being in a high tier city. If I didn't I would have moved a long time ago.
The best jobs are here, unemployment is low here, the weather is good here, crime is low here, schools are good here, food is good here, of course your going to have a ton of people who want to live here, expensive housing, and high demand. San Francisco, Seattle, and Los Angeles are great examples of cities similar to ours where everyone wants to live. San Francisco+Seattle has had a similar housing crisis too. Its just what happens to cities that are awesome. And I don't think making our city less awesome is the solution to a crisis. You cannot go back you can only go forward.
As for average salaries, 50% of us make $6500 or more a month. Thats more than I make! Assuming a couple who both make that salary that puts half the population of Vancouver in the top 20%. That doesn't even count income made outside salaries. So it looks like a majority of Vancouver's residents are in the 20%, so perhaps it is a city for the 20%?
http://www.salaryexplorer.com/salary-survey.php?loc=3334&loctype=3
One more thing to show off, residents of Vancouver are on average richer than other Canadians. So yes, Vancouver is the richest city in Canada. And I personally like it that way. I want to be in the New York/San Francisco of Canada not the Detroit. People keep complaining things are expensive here, yeah well its supply and demand and we're richer than the rest of Canada. If you don't like it there are lower tier cities in Canada.
I'm not saying don't build affordable housing. I propose that luxury real estate is a separate independent market that pays a ton of taxes, employs people, and boosts our economy, and we shouldn't seek to kill the golden goose. If we actually stroked the goose we could easily be adding $500 million extra to our coffers annually (likely a lot more when you add up all the city and provincial fees/taxes) which means were losing out on 1000+ units of housing for locals every year due to our boner for hating the rich.
https://dailyhive.com/vancouver/vancouver-development-cost-fee-hike-cancellation-august-2019
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According to a December 2018 budget forecast, the municipal government was projected to see $258 million in revenues in 2019 from DCLs, CACs, and DBs — down from $421 million in 2017 and $885 million in 2018, which was a record year for CACs secured as a result of the approved rezoning of Canadian Metropolitan Properties’ redevelopment of the Plaza of Nations at Northeast False Creek.
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