> A feature of the EHT is that it focuses on residential properties, not commercial spaces
> [Due to] the shift to remote work during the pandemic, office vacancies remain stubbornly high in many cities.
> With the combination of Vancouver’s EHT combined with the province’s SVT, the taxes are credited with reducing the residential vacancy rate to 0.49%
Isn't that really, really low and a driver of rent rises?
Instead they find someone in their network, like a friend or friends adult child that is studying who can stay there and they pay a trivial rent to “take care of the house”
Is that what it means? Paris has a similar vacancy rate and seems to be doing alright. Vancouver has also seen population growth rates above 4%/yr, which outpaces the province, so people are moving there.
Is there a talent shortage in that city? Unemployment seems higher than normal but that could be an oversimplification.
I guess I’m struggling to see the connective tissue between the stated points.
Great food, tons of bike and rail infra, 35 hour work week, strong social safety nets, lower than average rate of violent crime, wide consideration as the preeminent destination for fashion and art, etc. etc.