Report on vacant homes to be released by City of Vancouver

VANCOUVER - A new report is expected to shed light on the extent of Vancouver's "dark homes" problem.

Prospective buyers and neighbours have long complained that investors are buying houses and leaving them empty, driving up prices and reducing supply, but there's been little data to back up the claims.

See Full Article

The city hired software company Ecotagious Inc. last year to analyze electricity consumption, and the company's CEO is expected to present a report on the findings to city council today.

Coun. Geoff Meggs has said that some homes are not as empty as they appear, while others may be vacant for good reason such as a recent death in the family.

An oft-cited study by adjunct University of British Columbia planning professor Andy Yan found up to one in four units is vacant for at least part of the year in some Vancouver neighbourhoods.

But think tank Urban Futures found just 5.4 per cent of units unoccupied overall, in line with other big cities.



Advertisements

Latest Economic News

  • Empire posts lower Q4 adjusted earnings amid turnaround of Sobeys grocery unit

    Economic CTV News
    STELLARTON, N.S. -- The parent of Sobeys is reporting a decline in adjusted earnings for the first full quarter since it installed a new chief executive with a mandate to revive the national grocery business. Source
  • 'Straight-out con': Calgary man gets five years for defrauding his own company

    Economic CTV News
    A co-founder of a Calgary oil and gas company was sentenced to five years in prison after pleading guilty to fraud for stealing close to $5 million from the company. Ian Wilson Fisher, 54, admitted to defrauding Arcan Resources, a company he launched with his brother and another man, by creating shell companies and dozens of false invoices. Source
  • China frees 3 activists who probed Ivanka Trump supplier

    Economic CTV News
    GANZHOU, China -- Chinese authorities have released on bail three activists who had been detained after investigating labour conditions at a factory that produced shoes for Ivanka Trump and other brands. The three activists walked out of a police station in Ganzhou, a city in southeastern Jiangxi province, on Wednesday, the final day of their legally mandated 30-day detention period limit. Source
  • Sugar Mobile not quite dead yet, as analysts dream of more wireless competition

    Economic CBC News
    Sugar Mobile, the small startup provider offering wireless plans for as little as $19 a month that was effectively given a death sentence by the CRTC, is not quite dead yet. And the fact that it still exists — even on life-support and as a shell of its former self — should give hope to Canadians desperate for more competition in the country's wireless sector, according to industry analysts. Source
  • Stocks drop after global share sell-off hits after Wall Street, Europe losses

    Economic CTV News
    HONG KONG - A global stock market sell-off pulled shares lower in Asia on Wednesday as investors grew cautious following losses on Wall Street sparked by a delayed health care vote. Sentiment was dented in Europe by speculation that European Central Bank stimulus may be wound down if conditions improve. Source
  • Canada's big banks admit they overcharged customers — what went wrong?

    Economic CBC News
    On Tuesday, Royal Bank was the last of Canada's five big banks to get slapped with a multi-million dollar penalty for charging customers excess fees for investment products like mutual funds. In some cases, clients were unknowingly overcharged for more than a decade. Source
  • Competition Bureau of Canada gives $4.4B Couche-Tard deal green light

    Economic CTV News
    LAVAL, Que. -- The Competition Bureau of Canada is giving the green light to Alimentation Couche-Tard (TSX.ATD.B) to purchase its American fuel and convenience store rival CST Brands Inc., provided the company sell some of CST's Canadian assets to Parkland. Source
  • Ivanka Trump shoes factory has long hours, low pay and abuse

    Economic CTV News
    GANZHOU, China -- A worker with blood dripping from his head marked a low point in the tense, grinding life at a southeastern China factory used by Ivanka Trump and other fashion brands. An angry manager had hit him with the sharp end of a high-heeled shoe. Source
  • Facebook hits 2 billion users, doubling in size since 2012

    Economic CBC News
    Facebook Inc. said on Tuesday that 2 billion people are regularly using its flagship service, marching past another milestone in its growth from a college curiosity in the United States to the world's largest social media network. Source
  • Royal Bank to repay investors $21.8M for mistakenly charged investment fees

    Economic CTV News
    TORONTO - The Royal Bank of Canada (TSX:RY) has agreed to a deal with Ontario's securities watchdog to repay $21.8 million to clients who were mistakenly charged some investment fees. The Ontario Securities Commission approved Tuesday the no-contest settlement agreement with RBC Dominion Securities Inc. Source