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Everybody’s talking about foreign investment; let’s talk about renter tax credits

Rent control is another obvious solution, but in a free enterprise housing market—where renovictions are a thing, and the provincial Residential Tenancy Act is in desperate need of overhaul—there is potential for pushback from industry. Arguably rent control could be seen as a disincentive for new rental builds, although cities like New York have managed to make renter protection a condition of rezonings.

But there is a tool that hasn’t been subject to much discussion in our province, one that might bring some relief to beleaguered British Columbians: a renter’s tax credit.

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Viaducts removal and Vancouver’s eastern expansion

Vancouver City Council approved an amended staff report to remove the viaducts in principal, with the inclusion of a serious commitment to immediate downgrading of Prior Street and a new east-west arterial, as well as meaningfully honouring of Hogan’s Alley and the black community displaced from there. — Still there is more work to be done, in particular regarding development and affordable housing, delivery of Creekside Park and the management of traffic in NE False Creek.

Earlier, I wrote the following op-ed:

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We must save Vancouver Community College and public adult education

Like many Vancouverites, I owe a sincere debt of gratitude to VCC.

I wrote my first lines of HTML code in a VCC classroom, allowing me to upgrade from print-focused graphics to remain successfully self-employed and engaged in newly emerging world of web design. During my lean years, the meat and baked goods shops at the downtown campus—serving deep discounted butchery and bakery student works—kept me well fed when I couldn’t afford much else. My wife successfully transitioned into a productive career thanks to the affordable and specialized skills upgrading she received at VCC almost twenty years ago.

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Lower interest rates and housing affordability, more danger ahead?

This morning, as predicted, the Bank of Canada cut our interest rate by .05 per cent. Ostensibly, the move is to head off a recession — spurred mostly by slumping oil markets that have dampened Alberta’s economic outlook — lower interest rates mean Canadians will spend more.

Lower interest rates also mean cheaper mortgage rates, which in turn will push up housing prices, particularly as investors look for safe places to park their money, like Vancouver.