The cost of housing in Vancouver really isn’t the issue – it’s the buyers that need a little fixing. The real concern is the types of people who are buying housing specifically in Vancouver and how it will affect the city in the long haul.
Those buying high-priced Vancouver homes are either well-off foreigners who do not actually live in their investment properties or Vancouver residents who plan to stay in the city. A majority would say that most locals are no longer investing and plan to move out. In turn, we gradually lose the benefits of a great city: opening up businesses, the arts and community, city planning in general, and much more.
To fix this issue, it should perhaps start off with finding the right types of people to buy Vancouver property. Anyone who is committed to growing and building a better life in the city are more suitable candidates for owning a Vancouver home than those looking to buy property just because they know that housing prices are increasing. Another suggestion is for the city to step up on immigration policy and create incentives that will bring in people who are truly here to stay and help keep Vancouver as the beautiful city it already is.
Vancouver is one of the finest cities to live in. Once we’re able to diagnose the core issues that Vancouver faces, we can then embark on a journey with people who are able to fully utilize the city for all of its worth.
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