In the July
5, 2013 issue of The Guardian Weekly,
Patrick Collinson has an article entitled: “Number
of £1m homes rises by a third”. Some
cities in the UK promote people to buy derelict homes for £1, and there are areas
in the nation where many homes sell for under £50,000. This is in contrast to
what is happening in well-to-do London. A
quote: “Overseas buyers are behind much of the boom in what upmarket estate
agents are now referring to as a new mini city-state, PCL – prime central
London. In 2012, of 7,000 new-build homes, more than 5,000 went to overseas
buyers, and the estate agency Knight Frank said buyers from just two countries,
China and Singapore, bought 40% of them. But buyers rarely occupy the
properties, leaving parts of prime central London empty of residents. The main
beneficiary has been the Treasury, which in March last year imposed a 7% stamp
duty on home sales above £2m.”
Is there a similar phenomenon in specific neighbourhoods of Vancouver with unoccupied houses and condos? People in the Dunbar area decry the deterioration in neighbourliness that is a result of houses left unoccupied. Other results:
- the local economy is not supported (aside from landscape maintenance and security businesses)
- children are not enrolled in schools
- participation in community centres, places of worship, and other local organizations does not take place
- the pool of residents for civic engagement is reduced
- the opposite of densification happens
- public transit is not used
- fewer people out and about taking walks and gardening can mean less safety