What a coincidence!
Featured news story in Business in Vancouver: ALR to blame for Vancouver’s unaffordable real estate: Demographia
Demographia principal Wendell Cox told Business in Vancouver that the region’s agricultural land reserve (ALR) is largely responsible for high housing prices in Metro Vancouver.
“The leadership of B.C. has placed the preservation of agricultural land at a higher priority than the standard of living of people and the minimization of poverty,” Cox said. …
“The basic reason Vancouver house prices are so unaffordable is that you do not allow a competitive market to operate on the fringe.
Announcement by the Province:
On Thursday, B.C.’s finance ministry confirmed the sale of 21 parcels in the Smiling and Partington creek neighbourhoods; in the area at the top of Coast Meridian Road that is slated for the northwest Burke visioning study; and in the urban containment boundary — that is, the area without a civic development plan.
Squeeze play: sales of unplanned land on the north, opening of ALR land on the south. The regional plan is increasingly irrelevant in the face of Demographia logic:
Alain Bertaud, senior research scholar at the Stern School of Business at New York University, wrote in the introduction to the report. “If planners abandoned abstracts and unmeasurable objectives like smart growth, livability and sustainability to focus on what really matters — mobility and affordability — we could see a rapidly improving situation in many cities.”