“Good public policy is best developed with our better angels than our paranoid demons.”
– Andy Yan
In McMartin’s column: No end to the rising tide of house prices.
Yan also makes this point:
“There are a number of tools in the tool kit to figure out what the problem is, and it’s important that we have the facts before us to understand what’s going on.”
Is it wealthy offshore buyers, or the vast transference of wealth from an older generation to a younger one, or just the desirability of Vancouver that brings 40,000 people a year here that is the main engine of rising real estate values here? Or is it a mix of all of them?
“Let’s start out with understanding the problem,” Yan said. “I think it requires a lot more work. It’s work that has to be open and transparent, and that’s key.
So why isn’t that work being done? What specifically is the problem? It’s not enough to say such data collection is opposed by those whose interests would not be served. Who, exactly? And what is their rationale?
That is the first place where openness and transparency are needed.