Affordable Housing

Young Vancouver families trapped in starter homes, finds study

It’s hard enough to become a homeowner in Metro Vancouver, with the average home price being almost double that of the national average. But for those young families who do manage to buy a starter home, moving to a space that can accommodate kids can be downright impossible, according to a Vancity study released September 17.

This means many families become trapped in spaces that are too small.

"Buying a suitable house isn't affordable for most families,” said Vancity’s vice-president of impact market development Andy Broderick.

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Bold 30-storey micro-condo tower proposed for Davie Street

Could micro-condos help address Vancouver’s housing supply and affordability issues?

Reliance Properties plans to build a 25 to 30-storey tower at 902 Davie Street, a site at the southwest corner of Davie and Hornby streets that is currently occupied by a 7-Eleven convenience store.

The tower will be comprised of micro-units between 175 and 275 square feet, with outdoor gardens every few floors and a rooftop space as well as amenities such as a dining spaces, an electronic library and a study hall.

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Vancouver’s tiny condos filling a bigger market niche

The great microsuite debate is a hot one because cities like Vancouver and Toronto are screaming for more affordability and density.

At the same time, there are those who are asking if it’s fair to expect people to live in less than 300 square feet and pay top dollar for it. It’s obvious why developers like the microsuite: the smaller the unit and the higher the tower, the greater the returns. In a low vacancy market with high rents, it’s a no-brainer for investors to snatch up microsuites and rent them back to people at a price that makes good on their investment.

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Housing co-ops “face horrible choice” as subsidies end

Aging B.C. housing co-operatives are in limbo as federal government subsidies end and restrictions limit their options. Ironically, for some of Vancouver’s 108 non-profit housing co-ops, real estate speculation could be the saviour.

All of the federally-funded co-ops signed operating agreements with CMHC that ran for either 30 or 35 years. Starting this year, those agreements – and the subsidies – are ending. About 70% will have expired before 2020 and 2017 will be the peak year for agreements to end.

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