A shortage of affordable housing and an increasing homeless population has thrust the mid-sized city of Vancouver into the realm of big-city problems.
As part of a major metropolitan area, the region is faced with issues not often associated with cities of its size. Namely, that the population is increasing more quickly than the number of housing units. It is Economics 101 to distill the impact: More people seeking a place to live drives up housing costs, prices many people out of the market, and contributes to incidents of homelessness. As The Columbian detailed recently, Clark County’s population grew about 2 percent from 2014 to 2015, while the number of places to live — both single-family homes and apartments — increased by a little more than 1 percent. It doesn’t take an economics degree to figure out that is not sustainable.
This formula is being repeated in cities throughout the country, and it is particularly problematic along the nation’s coasts, which are viewed as desirable locations and also tend to have environmental regulations and growth restrictions that limit construction. As cities grapple with the dichotomy of growth management, The Wall Street Journal provided some suggestions last month in a story headlined “How to Make City Housing More Affordable”:
• Housing-assistance programs often help the neediest, but at the same time can increase pressure on other segments of the population. In other words, while much attention has been placed upon helping low-income residents, programs such as requirements for developers to include low-income spaces alongside high-end units can help push the middle class out of the market.