Eliminate red tape and boost subsidies, says housing expert
Posted February 3, 2012 7:33 am.
This article is more than 5 years old.
VANCOUVER (NEWS1130) – There is growing concern from Mayor Gregor Robertson that Vancouver will no longer be seen as one of the world’s most livable cities if the housing affordability issue persists.
A two-day Cities Summit that brought people from all over the globe together ended in Vancouver yesterday with housing affordability being one of the highlights.
Professor Tsur Somerville with UBC’s Sauder School of Business says Metro Vancouver has a permanent problem on its hands; there’s no more land, everyone wants to live here and choices to fit lifestyles and budgets are slim.
Somerville believes the solution is to get rid of red tape and increase subsidies among many factors. He argues governments have to keep their distance.
“There are ways that governments can get out of the way,” he explains. “The reason that housing is less affordable is because of government regulations, delays and constraints.”
However, he contends governments also need to help out those in need. “Some types of subsidies or transfers… to deal with those people who just can’t afford it. You’re just not going to make it affordable for poor renters here.”
Somerville points to other examples, noting metropolitan cities like Hong Kong and Singapore rely on government-supported rental housing programs. He feels increasing density is the way to go but not just in the form of highrise condos.
He’ll be addressing the Canadian Home Builders Association at a Housing Affordability Symposium today.
