Vancouverites needs affordable rental homes - and they need them now.
The rental market has gotten out of control, and the average 1-bedroom in the city costs more than $2000/month. There are thousands of homeless, huge waitlists for social housing, and even well-paid professionals can’t afford to rent in the city.
Private developers are building free-market housing, but at luxury prices only the rich can afford.
The most effective way to break this loop is building new city-owned rental homes and co-ops rented at a fixed rate of 30% of tenants’ income. Only City-owned homes can guarantee real affordability for renters now!
Vancouver has a housing crisis, and it’s only fair those who benefitted off the housing bubble pay to help fix it. A property surtax of 1.5% on the top 1%, and 0.5% on the top 5%, of the city’s most expensive homes would bring in hundreds of millions of dollars a year that can be used to build thousands and thousands of subsidized rental for the average-income and below-average-income workers, students and families of Vancouver.
OneCity’s luxury surtax on the top 5% would generate enough local money to build enough modular homes to house every single homeless person in Vancouver within 1 year, and still build thousands of units of affordable rental every year.
Sign this pledge to support a property surtax on the top 5% to help build thousands of guaranteed affordable rentals for average income earners, the poor, and the homeless.