Vancouver Faces Housing Market Challenges Amid Rising Costs

Vancouver's housing market is facing challenges due to rising home prices and increased property taxes, which have risen by 7.5% recently, with another hike proposed for 2025. Many development projects have stalled as costs soar and prices fall, making them financially unviable. Local leaders are considering slowing population growth to manage infrastructure demands, but aging systems require urgent attention regardless of growth. A shift in regulatory approaches and support for developers could stabilize home prices and foster economic growth, benefiting the community.