Scarce residential real estate shouldn’t be sold to foreigners

Re: ‘Locals first’ pronouncement sets off pointed email exchange, Oct. 14

So the Urban Development Institute takes exception to Mayor Gregor Robertson’s proposal to give local buyers priority on pre-sale condos before foreign purchasers.

I always thought the role of government was to look after the needs of its own citizens first. A mockery has been made of this concept, however, in the last few years as all levels of government have sat back and watched housing costs spiral completely out of reach of local incomes. Young professionals are leaving Vancouver in droves, or choosing not to come here in the first place because of housing costs.

Schools can’t attract teachers, the service industry can’t retain workers, restaurants are being shuttered, and most local citizens’ children can’t afford to stay in this city. I, for one, am tired of the real estate and development industry influencing public policy for their own gain and to the detriment of local citizens.

It is a mystery to me why a scarce resource like residential real estate is even sold to foreign buyers, contributing seriously to its unaffordability, when the housing supply is clearly insufficient for Vancouver’s own residents.

When government actually addresses this elephant in the room, they might earn my respect. Hilary Reid, Vancouver