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Ian Young

The Hongcouver | Is Vancouver’s condo king calling the shots on the city’s affordability strategy? Really?

Bob Rennie says focus on foreign money is anti-Chinese racism, and housing affordability activists are ‘girls treating issue like a party game’

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Real estate guru Bob Rennie (left) and Vancouver Mayor Gregor Robertson came to near-simultaneous conclusions about the how to handle the city's affordability crisis. Photo: SCMP Pictures
Ian Youngin Vancouver

It’s a simple question. So simple it sounds ridiculous.

Is Bob Rennie – condo-king of Vancouver, whose marketing strategies have revolutionised the real estate industry and helped transform the city – really calling the shots on City Hall’s strategy to combat housing unaffordability?

Mayor Gregor Robertson last Friday broke with previous form to announce support for a speculators’ tax to curb a runaway real estate market rated the second-most unaffordable in the world, behind Hong Kong, according to the Demographia* study of 378 cities in nine markets around the world. Such a tax is politically palatable, and implementation would fall on the BC provincial government.
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Less palatable was the fact that just hours before Robertson’s announcement, Rennie - an important financial backer of the mayor - used his annual speech to the Urban Development Institute to call for the very same thing.

I asked Braeden Caley, the mayor’s spokesman, if City Hall had discussed a speculation tax with the founder of Rennie Marketing Systems.

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The response (in full) was a sidestep that omitted mention of Rennie: “The Mayor indicated his support for a speculation tax to the Premier [Christy Clark] earlier in the week, and has been raising significant concerns about Vancouver's housing market and the ability of people of all backgrounds being able to call this city their home without new policy action from the Province and Federal Government.”

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