An affordable housing roundtable with the Prime Minister has begun in Vancouver.
Justin Trudeau began by acknowledging Vancouver is facing a housing crisis and it will be tricky to find solutions.
“We have to be very wary of unintended consequences and we have to make sure we are thinking of not just the urgent short term response we have but how this city and this region and this country indeed will flourish.”
While the Prime Minister isn’t providing specific solutions, he is hinting that whatever the federal government does will be broad strokes involving provincial and municipal governments as well.
Joining the Prime Minister for the housing affordability roundtable are a number of experts.
Among them, Generation Squeeze’s Paul Kershaw who has a suggestion for the Prime Minister to consider.
“We need to shift increasingly towards housing wealth taxation and perhaps shift away from income taxation as one tool to signal a cooling of the housing market. Two, we do need new opportunities to build supply, supply, supply – including tackling issues of single detached housing in hot spots in Metro Vancouver and Toronto.”
Kershaw says the sky high cost of daycare for young families must also be addressed.