Quote:
Originally Posted by csbvan
Force municipalities to boost housing construction. Such a naive fool. You can require municipalities to rezone for more density, etc. You cannot require them to boost construction which is market dependent. Are municipalities going to force developers to build even if current market conditions make it unfeasible and unprofitable? Embarrassing
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While I appreciate what you are saying and it certainly has some truth to it, we are in a housing crisis. There will be demand for years to come and the cities saying they can't do it is getting old. The cities have had decades to make such changes and have never done it because municipal city politicians are too afraid of losing their next election and to hell with the people who need a place to live. Such a move would force cities to vastly expediate building permits. Canada has the fewest homes per-capita in the G7 and it take longer to get a residential permit in Canada than in any OECD country.........patently absurd.
If a developer states that they cannot build developments and make a profit then it may force the cities to reduce their fees/permit costs. Right now Vancouver's fees are beyond bizarre and beyond reason. One third of the cost of your house shouldn't go to fees especially in a city as hyper expensive as Vancouver. That could also have the consequence of the city forcing up its ultra-low residential tax rates which benefit the well off and usually older population. Shifting the tax burden to the older millionaire home owners from the young who are trying to start a life is nothing but good news. Higher municipal taxes also help reduce money laundering and wild speculation as the cost of their housing "investments" goes up.
PP's plan is a radical one but it's one that must be done and rest assured the cities will be able to get it done if hardcore money is on the line. This is the kick in the ass that our cities both need and deserve.