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Garry Marr: Watch out Edmonton — people from Toronto and Vancouver are coming for your homes​

Aled ab Iorwerth said data already shows an influx of people moving from Vancouver and Toronto to the Alberta capital, and it’s only going to get worse if more supply isn’t created in the two cities that regularly clock in as Canada’s priciest.

“If we want to reset the affordability in Toronto and Vancouver, we need dramatically more housing supply,” he said during his presentation. “People are starting to move because of house prices. Edmonton does not need to build more housing than it plans to build, but if Vancouver and Toronto don’t get their act together, Edmonton will have to build a lot more housing because people will leave Toronto and Vancouver.”
 
policyenthusiast said:

Garry Marr: Watch out Edmonton — people from Toronto and Vancouver are coming for your homes​

Aled ab Iorwerth said data already shows an influx of people moving from Vancouver and Toronto to the Alberta capital, and it’s only going to get worse if more supply isn’t created in the two cities that regularly clock in as Canada’s priciest.

“If we want to reset the affordability in Toronto and Vancouver, we need dramatically more housing supply,” he said during his presentation. “People are starting to move because of house prices. Edmonton does not need to build more housing than it plans to build, but if Vancouver and Toronto don’t get their act together, Edmonton will have to build a lot more housing because people will leave Toronto and Vancouver.”
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Well this has already been happening for several years, but perhaps someone in Toronto or Vancouver just finally noticed. Maybe they need to have a new section called Old News.

This does seem quite alarming, but actually the migration seems to be slowing down some as rent and housing prices are easing a bit now in those cities, so we will probably manage with the current level of building which is still quite high.

IDK, maybe Vancouver and Toronto will even sort of get their act together when some of the people running them also finally start to realize they will be traveling here and elsewhere to visit their grandchildren if they don't.
 
policyenthusiast said:

Garry Marr: Watch out Edmonton — people from Toronto and Vancouver are coming for your homes​

Aled ab Iorwerth said data already shows an influx of people moving from Vancouver and Toronto to the Alberta capital, and it’s only going to get worse if more supply isn’t created in the two cities that regularly clock in as Canada’s priciest.

“If we want to reset the affordability in Toronto and Vancouver, we need dramatically more housing supply,” he said during his presentation. “People are starting to move because of house prices. Edmonton does not need to build more housing than it plans to build, but if Vancouver and Toronto don’t get their act together, Edmonton will have to build a lot more housing because people will leave Toronto and Vancouver.”
Click to expand...
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policyenthusiast said:
This is a very interesting topic IMO. Looked into protections in AB against the purchase of ag land by pension funds. MLA Glenn van Dijken slated a bill that would have prevented pension funds and trust corporations from buying up AB farmland after Sask passed a similar law, but it died on the floor, likely due to the Legislature proroguing.

So we have protection against foreign interests (as you described) but not from institutional investment.
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Checking out the order papers for next monday, wouldn't you know it, MLA van Dijken has a bill going to second reading - Bill 215, the Prohibiting Ownership of Agricultural Lands (Pension Plans and Trust Corporations) Act. I'm curious if the policy has been well-regarded in SK.
 
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