Douglas Todd: Ten ways to ease Metro Vancouver’s housing crisis

The two immigration-related suggestions by Todd. The first and second ones are easier than the third one, given mobility rights:

Press to end Quebec’s immigrant investor program

Even though the Conservatives stopped Canada’s egregious immigrant investor program in 2014, a form of it still exists in Quebec. But the vast majority of rich immigrants who buy their way into the country by modestly “investing” in Quebec never live in la Belle Province. Most move to Metro Vancouver.

 Combat money laundering, including the property transfer system

Canada’s naive honour system has failed to tax billions of dollars in trans-national property deals. Information sharing agreements between real estate officials, Revenue Canada and the immigration department are desperately needed to catch buyers and sellers who lie about whether they are residents of Canada for income tax purposes. UBC geographer David Ley says a host of money-laundering and tax-evasion schemes, including faking that a property is one’s primary residence, are  getting exposed in London and New York.

Reduce or redirect immigration patterns

In regards to the big picture, Britain and other countries are reducing immigration rates. Studies, like that of UBC geographer Dan Hiebert, show well-off immigrants are a key driver of increases in urban house prices. Nine out of 10 immigrants to B.C. choose Metro Vancouver. Some countries have found ways to encourage immigrants to move to less populated regions.

Source: Douglas Todd: Ten ways to ease Metro Vancouver’s housing crisis | Vancouver Sun