BBC News: Vancouver’s ‘freak show’ property market

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May 26, 2016 |

Quoted from the article:

The Royal Bank of Canada warned recently that Vancouver is becoming “dangerously unaffordable”. A recent study ranked Vancouver as the least affordable city in North America.

“We’re an international freak show,” says David Eby, a member of British Columbia’s legislative assembly for Vancouver-Point Grey and housing spokesman for the opposition New Democrat Party.

On the walls of his community office in west Vancouver are testimonials of residents who have been forced to move out of the city by the rising cost of housing.

He says the local economy simply isn’t big enough to justify the sky-high property prices.

The result is an exodus of young people from the city. The local economy is being damaged and quality of life is being harmed.

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