[URBAN NOTE] "In soaring housing costs, Vancouver is not alone - but London offers hope"
In The Globe and Mail, Stephen Quinn argues Vancouver should look to the experience of London in managing housing costs.
People who live in this city know all too well the problem of housing affordability.
The mayor has outlined the issues well: “People who grew up here unable to rent or buy, parents forced to raise children in homes that are too small, rents taking up more and more of people’s income. Home ownership is slipping increasingly out of reach for more and more. Many now face far longer and more expensive commutes, and businesses struggle to recruit and retain the people they need to grow and prosper.”
When I say, “this city,” I’m not talking about Vancouver. The city described above is London, England. And when I say, “the mayor” I’m quoting Sadiq Khan, London’s newly elected Labour Party mayor, who has made housing his priority.
The quote comes from Mr. Khan’s housing manifesto - part of his election campaign.
There is more. Mr. Khan told The Guardian this week: “There is no point in building homes if they are bought by investors in the Middle East and Asia. I don’t want homes being left empty. I don’t want us to be the world’s capital for money laundering. I want to give first dibs to Londoners.”
People who live in this city know all too well the problem of housing affordability.
The mayor has outlined the issues well: “People who grew up here unable to rent or buy, parents forced to raise children in homes that are too small, rents taking up more and more of people’s income. Home ownership is slipping increasingly out of reach for more and more. Many now face far longer and more expensive commutes, and businesses struggle to recruit and retain the people they need to grow and prosper.”
When I say, “this city,” I’m not talking about Vancouver. The city described above is London, England. And when I say, “the mayor” I’m quoting Sadiq Khan, London’s newly elected Labour Party mayor, who has made housing his priority.
The quote comes from Mr. Khan’s housing manifesto - part of his election campaign.
There is more. Mr. Khan told The Guardian this week: “There is no point in building homes if they are bought by investors in the Middle East and Asia. I don’t want homes being left empty. I don’t want us to be the world’s capital for money laundering. I want to give first dibs to Londoners.”