People in Metro Vancouver will soon get the first crack at part of Vancouver鈥檚 tough housing market.
A motion to limit pre-sales to people living and working in the region passed at a Tuesday city council meeting.
Mayor Gregor Robertson made his pitch for the idea in a video posted to social media to try to help young families buy a home.
. moves motion in for staff to develop policy that prioritizes presales for the people below:
鈥� Van Mayor's Office (@VanMayorsOffice)
According to the Canadian Mortgage and Housing Corporation, Metro Vancouver has a rental vacancy rate of 0.7 per cent, despite 16,452 housing starts between January and August of this year.
Staff are set to bring back a report to Vancouver council on how to implement the plan.
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