Kishone Roy TITLE: CEO, BC Non-Profit Housing Association

Rents deemed unaffordable in Vancouver/City to expand supply of ‘family’ units of apartments/condos

Canada's largest credit union is warning that young workers who have long since abandoned hope of owning a home in the Vancouver area are now being priced out of the city's rental market. A new report from Vancity explores the tight rental market across Vancouver and the problem it poses for the so-called millennial generation. Vancity vice-president of community investment, William Azaroff, says the report shows only the Marpole and East Hastings neighbourhoods remain affordable for the average worker under 40, earning less than $40,000.

http://bc.ctvnews.ca/vancouver-rental-market-too-pricey-for-young-workers-report-1.2977311

Families looking for housing in Vancouver may soon see a much-needed break if a new housing proposal passes City Council. Vancouver City Council is set to vote on an upcoming proposal that could require new strata housing developments have 35 per cent of their units include two bedrooms or more. The plans hope to increase the supply of family-suitable units across the region through a new housing policy that will require 25 percent of units in multi-family strata rezoning projects to be two-bedrooms and 10 per cent to be three bedrooms or more.

http://globalnews.ca/news/2812267/vancouver-plans-to-expand-housing-supply-for-fa

Learn more about your ad choices. Visit megaphone.fm/adchoices