December 11, 2019
To fully address Metro Vancouver’s housing crisis we need an ambitious build-out of 10,000 new units per year of non-market, rental housing. This includes public housing and co-ops that are truly affordable for ordinary households.
New investments from the BC and federal governments point to a modest revival of public, non-market housing, but these investments must be ramped up.
More importantly, we need to break away from a dominant mindset that sees private sector property developers as the only builders of housing, and shift away from viewing home ownership as the preferred mode of accessing housing.
The greatest need is rental housing stock for low- to moderate-income households. This is precisely the group that is unprofitable for private sector developers, who would rather build luxury units for sale to the highest bidders worldwide.