The mayor of Vancouver has called on the province for a lot more than just a speculation tax to curb Vancouver’s soaring home prices.
In a letter to Premier Christy Clark, released to the media by the mayor’s office, Gregor Robertson asks for the province to increase the property transfer tax on the city’s most expensive properties, and then invest those increased tax revenues back into affordable housing.
Robertson also asks for the Vancouver Charter to be amended to allow the city to track property ownership and to monitor vacant units.
In the letter, the mayor also says the province should increase investment in social housing and help to create more rental homes.
Vancouver real estate should not be treated as a commodity
On the issue of foreign buyers, Robertson tells the Premier there are “increasing reports” that Vancouver real estate is being treated as a commodity by the world’s wealthiest people.
He says housing in Vancouver should not be treated in such a fashion.
The letter was sent to the Premier, where it recieved a cool reaction, the same day Vancouver’s condo king Bob Rennie also pitched for a specualtion tax
The letter in full can be read below.