Anne McMullin on News1130 – Limited Land High Cost
The impact of our new minority government on BC real estate will be discussed at a downtown Vancouver hotel tomorrow (Thursday).
Other hot button issues at the event hosted by the Urban Development Institute include the controversial Vacant Home and Foreign Buyers taxes.
The U-D-I’s Ann McMullin says a key problem is not having enough supply to meet the demand for housing because 85 per cent of the zoning in this city is only for single family homes.
“We all know there’s practically a zero per cent vacancy rate in rentals. In terms of a supply perspective, we’re forced to build on a very limited land base. Construction costs are high, but it’s the land that makes it so expensive and then makes it expensive to build.”
Hear Anne by clicking the links below: