Interesting article in the Globe and Mail from Josh Gordon, assistant professor in the Simon Fraser University School of Public Policy on how building additional housing stock will do nothing to ease unaffordability if foreign speculation and purchasing is not controlled through policy.
“Young Vancouverites (and Torontonians) are currently being put into competition with massive amounts of foreign money, sometimes of dubious origin, which is something older generations never faced. Please don’t tell us where to move or what our expectations should be until you acknowledge those facts and help us address them. We know it will be harder to buy a detached house than it was before, but first, put us on a level playing field.”
Full Article here