People across Canada continue to debate whether Vancouver’s hot real estate market is messed up or just a result of high demand, low supply. For some the solution to this hot, crazy west coast market is to let the market dictate the highs and potential lows. For others, however, intervention is not only needed but essential. Here are eight possible solutions to Vancouver’s crazy real estate market.
No. 1: More data
Would you invest in a stock knowing little more than the ticker name and the asset class it belongs to? Of course not! The more informed you are, the better chance you have of making a good decision. The same applies when creating rules and regulations. If governments and provincial associations want effective regulations then they need information and accurate data. The more information they have and the better the data, the better prepared they are to create a long-lasting solution, not a temporary fix. It’s the reason why Andy Yan, an urban planner and professor at UBC, has consistently lobbied for governments and developers to focus on making data on housing and ownership trends more accessible.
Full story here: http://www.moneysense.ca/spend/real-estate/8-solutions-for-vancouver-real-estate-madness/