Source: http://www.vancouversun.com/business/Council+candidates+tackle+affordable+housing+Vancouver+debate/10319722/story.html
Vancouver is one of the most most beautifly places in the world but it is also one of the most expensive places to live in the world. This makes it difficult for most working families to afford a house, and in this election people are tuning in and paying extra attention to the economic solutions the candidates will bring.
The major issue is that in a city with rising costs minimum wages aren’t raising accordingly, supporters of the free market may argue that raising minimum wages just mean cutting the demand for labour, but is it justified? For many people to have a job but be unable to pay for their living with that job. I have friends who are in this situation and have to work a full time job during the day, and a part time job at night just to live in Vancouver. The idea of buying a house, or land, is a far fetched dream.
What interests me is how a political decision of mayorial candidateds is entwined with so many aspectes of buisness. If laws were set to regulate land prices would more companies move in to Vancouver and propel its economy? Or would foreigners come in to Vancouver and buy out all the land leaving the residents in a situation with no land and forced to pay high rent to foreigners?
I’ll be interested in how the elections turn out and how our buisnesses will change.