Being a student of economics, I am a strong believer in supply and demand and the principle of laissez-faire policies.
However, there are certain goods and services that need some government intervention, monitoring or oversight. Health care and law enforcement are two that most would agree are such.
Another basic need is shelter. For those living in the Lower Mainland, soaring house prices and the resulting excessive rent charged are insanely high, forcing many to choose between eating and having shelter.
If one does research on housing affordability on any metropolitan area in the world, one would find that compared to others, there is a despairingly huge disconnect between wages in Metro Vancouver and the real estate market.
Empirical-based evidence will clearly indicate this imbalance is largely driven by the influx of investment from China, with no accounting of “the sources” of this money.
I am fed up with the fumbling of the housing affordability file by the provincial government in addressing this and its stifling effect of the housing needs of locals.
Voluminous amounts of impartial evidence have been provided in the media regarding the inaction by our elected representatives and how it has adversely affected Canadians.
Real estate corporations with their strong connections and large donations to Christy Clark’s government explain why she chooses to do nothing. These same donors and Clark are pontificating that first-time home buyers can still find a house – blatantly incorrect if not outright false misinformation.
Our children’s futures have been sold out for their vested interests. In the next provincial election, I for one will organize and rally those displaced to vote for any party other than what is presently in place.
A lethargic government that has lost its social conscience and failed its fiduciary duty to its local citizens needs to be ousted.
Dr. Arunjit Gill