Globalization has changed everything. Housing has never been at such a premium, I think, in any of the major cities, but particularly here in Vancouver. After Hong Kong and New York City we have here the costliest real estate in the world. And it keeps getting costlier. Much is being said about Chinese millionaires driving up property values and, by default, the general cost of housing in Vancouver. There is some truth to this. I heard yesterday that there are four hundred thousand Chinese millionaires who want to live in Vancouver. Our metropolitan population is at around two and a half million. My guess is that most of them would want to live in Vancouver proper, likely in our most prestigious neighbourhoods, Shaughnessy, Kerrisdale, West Point Grey, Dunbar. Vancouver proper, in 2011, had a population of 603,502. (that's humans, by the way, Gentle Reader. If you want to know how many dogs live in this city then you are on your own! No, dogs are not humans. They are not even honorary humans. They are dogs. Canines. I don't care if your little boobums is part of your family. If there are any dog chromosomes in your genome then perhaps you should get help)
So, if four hundred thousand millionaire Chinese and their families were to suddenly settle here then our population would almost double. I shudder to imagine the other consequences. But one thing I do want to say to you, Gentle Reader. STOP BLAMING THE CHINESE!!! Yes some of them, maybe many of them, have gained their millions through shady business dealings and maybe are on the run from the Chinese government (which happens to be brutally cracking down on financial corruption right now), and yes they would love to transform our city into a Chinese laundry by buying up property and prestigious homes (oops, too late. No ticky no washy!) So then what is the difference between Vancouver and Lichtenstein? Lichtenstein is in Europe. What's the difference between Vancouver and Monaco? Vancouver and Grand Cayman? I think there is truth in the assumption that Vancouver isn't so much a World Class City as an offshore haven for money laundering.
I still say don't blame the Chinese. Not all the Chinese millionaires coming here are necessarily corrupt or criminals. A lot of them just want a safe and healthy environment to resettle and raise their kids. Nothing wrong with that. However....
Our governments on all levels have grievously defaulted on their number one priority: the wellbeing of the people (and those who didn't) vote them into power. We live in a democracy, yes? We uphold fundamental human rights, don't we? Shouldn't we? My question is why are none of our levels of government doing sweet f-all to ensure that affordable and accessible housing is available to all levels and all classes of people, whether in Vancouver or elsewhere. Why this zeal to court foreign investors with the full knowledge that little or none of the money they are fattening our coffers with is going to do squat to improve the quality of life for the homeless, for the poor, the socially marginalized? Why does Canada lag so far behind other countries in protecting and upholding its own citizens, especially regarding something as basic and universal as access to decent housing? Which community are we serving here? The global or the local? Yes we are living in different times and globalization has changed everything. We have to accept the free movement of capital and live with whatever compromises we have to in order to accommodate global trade.
Or do we? What is the point of allowing and endorsing this kind of reckless voracious and unrestrained global capitalism if it is eventually going to destroy the lives of the most vulnerable and undermine our communities without which there is absolutely no hope of building a healthy and sustainable larger community. When are we going to raise the value of our humanity above fiscal costs and dollars and cents and euros, yuan and pesos, too?
Why are so many people, especially in elected public office so ready to swallow and spew this nonsense that capital should not be controlled or restrained by governments? It is going to have to be controlled and restrained or we run the risk of not only being transformed but crushed and destroyed under the grinding wheels.
Here is my solution. Arbitrarily lower property values to match the national average. It would be around five hundred thousand in Winnipeg to buy a single detached home. Okay Vancouver, legislate the same money value into all the corresponding properties in this city. But with one difference. Foreign investors and real estate buyers will have to pay a premium of one hundred per cent or more, and that money will go into funding subsidized housing. This can be done and it has to be done if our elected officials are really serious about representing the people who put them in office. Screw the global community, Canada, BC and Vancouver. Your own people come first!
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