Vancouver stands as a paradox where desirability and foreign investment have fueled a severe housing crisis, making it unaffordable for many, particularly the middle and low-income residents.
A recent study reveals that in order to buy property in Vancouver, residents must dedicate 106.4% of their average salary, underscoring the stark housing challenges faced.
Despite city initiatives to set aside a portion of new housing for low-income individuals, significant barriers remain to accessing affordable living spaces.
The return of land to First Nations has introduced new opportunities for urban development, signaling a potential shift in addressing the housing crisis.
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