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Restrict Foreign Investment in Greater Vancouver's Residential Real Estate Market
Affordable Housing Rally on Sunday!
JW Gamal
Canada
22 May 2015 —
https://www.facebook.com/events/419315721574615/ Sunday, May 24th, 12pm at the Vancouver Art Gallery. We've came a long way in the last few weeks. We've brought the question of foreign investment in our real estate market out into the open, and we've forced our politicians into dialogue. But the dialogue is just beginning, and if we want meaningful change, we have to keep the pressure on our representatives. That is why this Sunday's Affordable Housing Rally is so important. We need to harness the momentum from this petition and throw it behind the rally. Eveline, the rally organizer and founder of the #donthave1million Twitter campaign, is pragmatic, modest, and strongly anti-racism. After having discussed the issue with numerous experts, she believes foreign investment and speculation are contributing to the complex puzzle that is Vancouver's housing crisis. The significance of foreign investment to this crisis compared with other factors still needs to be backed by data, and as journalist Ian Young argued in his recent article, dealing with flows of foreign capital into our housing market will be a difficult task. Nevertheless, Sunday's rally will be a key event in helping us to realign our real estate market with the local economy. The rally will bring together many voices who work on Vancouver's affordable housing issues to demand change from all three levels of government. It is a family friendly event, so bring out the whole gang and help us show that Vancouverites of all ages are equally concerned. Finally, please keep it positive—supporters of this movement include both long time residents and new immigrants, and we have zero tolerance for prejudice of any sort. As Canadians, both old and new, we are all in this together. Postscript: today, Mayor Robertson acknowledged the need to crack down on foreign and domestic speculation in our housing market. Let's turn this progress into real change! http://www.theprovince.com/business/Gregor+Robertson+calls+provincial+government+bring/11076030/story.html
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