David Goodman of HQ Real Estate Services addresses Mayor Sullivan, City Planners and Council Members on the proposed demolition moratorium of rental stock in Vancouver.
The planning departments position is a classic socialist response when things go wrong cut off supply rather than encourage new rental supply through higher densities and innovative new ways of creating the required rental housing stock. This is the latest outbreak of worn state planning emanating from the left wing thinkers trapped deep within the bowels of the City of Vancouver for the last twenty-five years or so.
Their attitude is to forget about Economics 101 and highest and best use. Instead they are contemplating the seizure of owners property rights by arbitrarily preventing the revitalization of said lands with new market housing. Perhaps they hope this issue will just go away or that thousands of new rental units will magically be conjured up at councils command.