Vancouver Island Economic Alliance’s Post

📰Read about the Vancouver Island Economic Alliance Summit in the news: "Complexity of Vancouver Island’s housing crisis highlighted at economic summit" Tyler Hay of the Nanaimo News Bulletin attended the VIEA 'State of the Island' Economic Summit and reported on the "The Housing Equation: The blunt truth about what caused the housing crisis and how we can find our way forward" session where experts delved into the complexities fueling Vancouver Island's housing crisis. Key takeaways: 🏠Housing Shortages: Federal cuts to subsidized housing in the '80s and '90s have left us playing catch-up, with housing supply unable to meet demand. 🏠Approval Challenges: Despite efforts to streamline housing approvals, municipal policies and local opposition make getting projects off the ground challenging. With decisions often held up at the municipal level, experts suggest more regional or provincial control may help accelerate development. 🏠Cost Barriers for Essential Workers: Affordable housing remains out of reach even for professions like firefighters and nurses, essential to vibrant communities. 🏠Labour Shortage and Cost of Materials: The high cost of living on the Island deters skilled trades, limiting housing construction. The session highlighted that, while there are no quick fixes, proactive policy changes and a collaborative approach are essential to making Vancouver Island more livable for everyone. Read full story here: https://lnkd.in/g43wQ64r 📷 credit Dirk Heydemann #VIEASummit #VancouverIsland #VIEA #VIEA2024 #VIeconomy #VIalliance #visummit #economicsummit #stateoftheislandeconomicsummit #vancouverislandeconomy #islandsummit2024 #housing #summitsession

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