Dear Editor,
Re: “Protect people ahead of profit,” Letters, Jan.4.
Nick Loenen’s letter laid out his solution to unaffordable housing in Metro Vancouver: regulate the housing market by banning all investors and speculators — both foreign and domestic.
Like Mr. Loenen, I am appalled that our politicians have shown little political will to deal with this serious problem. But his solution would require our governments to gain total control of a big sector of the economy.
Shades of the Soviet Union!
Even our provincial NDP government wouldn’t dream of doing that.
There is a more realistic solution.
We could adopt what New Zealand did last week. Like us, the Kiwis have a parliamentary democracy and are a member of the Commonwealth. Like us, foreign investment by Chinese investors has made New Zealand housing prices unaffordable for their own citizens.
Since Jan. 1, the New Zealand government banned selling any kind of housing to foreigners. And it is forbidding home sales to foreign trusts, foreign corporation and temporary residents such as foreign students.
It’s time our governments wake up and do something for its own citizens when it comes to affordable housing. Implement what New Zealand is doing!
Eric Hanson
RICHMOND
