Vancouver Parking

How to Fix Vancouver Parking Problems

Steve Saretsky -

Stackable Parking Could Solve Vancouver Parking Problems

As the city of Vancouver continues to densify, parking is becoming more and more of a problem. Vancouver Parking stalls are being sold in Downtown Vancouver anywhere from 20,000-$50,000 to some higher end parking stalls going for as much as 120,000. So should Vancouver consider stackable parking?

Stackable parking is a parking system which basically works as an elevator for your car. You drive your car onto a pallet and it hoists you up into a spot. It looks almost like a game of tetris, take a look. (Insert video)

With Vancouver parking becoming such a scarcity should we consider this? It is currently only in one high end development, the Jamieson. However,  it is already common practice in heavily densified areas such as New York and many Europian and Asian cities and has recently been introduced to several new condo developments in Toronto!

I think it will ultimately come down to what the city of Vancouvers long term plan is. It’s obvious they want to minimize cars on the road as they continue to increase public transit and the ever growing car sharing programs available. However, should we be giving citizens more options? Many people who work in the downtown core are paying a fortune to park their cars for the day simply because parking is so limited. Many parking stalls can be rented but usually start from 200 to 500 per month. These high costs force many to take public transit. Should these parking stackers be brought in it would make more efficient use of parking and should ultimately drive the cost of parking down, or at least give people more options. What do you think, should Vancouver adopt this technology?


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The Canadian Economy

Steve Saretsky -

Happy Monday Morning! We got a string of new data this past week confirming inflation in consumer goods, and housing are proving to be more than transitory. Canada’s consumer price index continued to drift higher with prices hitting an 18 year high, up 4.7% from last October. The recent floods in BC...

Steve Saretsky -

The calls for impending interest rate hikes continues. CIBC’s chief economist, Benjamin Tal, was out recently suggesting the Bank of Canada could hike its benchmark interest rate at least six times beginning in early 2022. “I think there is a risk of getting into the market at today’s rates,” noted Tal....

Steve Saretsky -

The BC Government announced it is looking at several cooling measures for the housing market in 2022. They have highlighted two measures. The first is an end to the blind bidding process, and the other is a mandatory “cooling off period” which will allow any buyer a 7 day recession...

Steve Saretsky -

The Bank of Canada continues to slowly drain liquidity after flooding the system with a firehose of cash during the pandemic. Bank of Canada governor Tiff Macklem announced the end of Canada’s QE program (also known as money printing). Furthermore, in Macklems words, “We expect to begin increasing our policy...

Steve Saretsky -

Consumer price inflation ripped higher in September, surging 4.4% year-over-year, the fastest pace of price increases in 18 years. Let’s discuss this further. We have an inflation problem and the Bank of Canada remains of the view that inflation will be transitory. Although they really can’t say otherwise, for if...

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The Saretsky Report. December 2022