Tag Archives: housing speculation

Taxing Vancouver’s Empty Homes

The ECOreport looks at a partial solution to the housing crises, taxing Vancouver’s empty homes

By Roy L Hales

Screen-shot-2014-03-18-at-3.43.47-PMVancouver’s real estate values have skyrocketed 280% since 1986, while wages have only increased 7%. A new report shows the affordability crises impacts both renters and homeowners. The average westside home was selling for $1.4 million last May. Though 10,800 housing units have been empty for more than a year, 1 only about 337 available as rentals. 2 This suggests that speculators own many of the vacant units. City staff recommend taxing Vancouver’s empty homes.

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  1. Policy & Regulatory Steps for Reducing Empty Housing, City of Vancouver Administrative Report, June 16, 2016, p 2
  2. ibid, p 3