It’s time for federal and provincial politicians to recognize that only non-market housing will fill the need for affordable housing. The market was never the answer.
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Bravo Erick Villagomez for the oped on housing supply versus demand. This is the best analysis I have seen in years. Now that developers’ demand for supply, supply, supply has not resolved our housing crisis, it is time for federal and provincial politicians to recognize that only non-market housing will fill the need for affordable housing. The market was never the answer. Now we have proof.
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Linda Shuto, Vancouver
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Newer condos too pricey, too tiny
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In contrast to developers in the 1970s, ’80s and ’90s who chose to divide their condominium buildings into fewer but larger apartments marketed to end users, developers in the last two decades chose to divide their buildings into large numbers of apartments but smaller sized units marketed to investors. The latter business model was profitable during the low interest and boom years. However, when the bubble burst, builders were left with dwellings that were too pricey and too tiny. To make them livable, two or three apartments will have to be combined into one unit.
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These are the condominium apartments our politicians propose to purchase with taxpayers’ money because they didn’t build needed non-market social housing in the last decade.
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The public will be bailing out both incompetent developers and incompetent politicians.
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Howard Rafael, West Vancouver
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99-year mortgages could be the answer
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There is a simple solution to this mismatch: governments and financial institutions should get together and establish a program where people looking to buy a condo or a house get access to 99-year mortgages.
This will make the monthly payments more affordable for many people — even at a generous (for the banks) interest rate. The original buyer might never own the unit outright, but a new owner can take over the mortgage. Early payouts might also be an option.
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Odd Grydeland, Campbell River
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An oversupply of unaffordable housing
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Governments should be supporting non-profit housing groups by facilitating rezoning, permitting, and providing long-term leases on publicly owned land as an effective way of helping people own non-market homes. Building more units doesn’t solve the problem — they have to be units people want and can afford. We have an over supply of unaffordable housing and a serious lack of affordable housing. Our governments should not be bailing developers out any more than any other business that hits hard times/makes poor decisions. “Build it and they will come” hasn’t worked for developers this time. We need to learn from this.
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Irene Wotton, North Vancouver
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Let’s sing the praises of our country
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David Freeman has written an excellent essay. It brought me to tears. These kinds of articles should be available to everyone. We should have more positive expression, rather than political unrest. Sing the praises of our country. Let the young children read this to have their identity as being a Canadian be reinforced. Give them hope to go forward in their lives with positivity. We should all feel this pride in our country.
