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The Innovation Economy and the Housing Crisis : Examining the Decoupling of Vancouver’s Housing and Labour Markets and the Impact on the Social Landscape Mao, Frankie
Abstract
As Vancouver navigates economic development in its current-day economic climate, there is pressure to further define the city’s global identity as a progressive international hub through supporting and fostering tech and cultural industries - or as coined by the city: Innovation Economies. These innovative industries are creative, non-traditional, and entrepreneurial departures from the transnational finance, service, and resource-based sectors that dominate the city’s economy. A handful of districts and neighbourhoods have been identified in and around the Downtown Core as districts to develop and foster Innovation, with the bulk of the labour force primarily made up of young, entry-level professionals in the creative industries. In a residential real estate sector characterized by high costs, competitive and increasingly unavailable rental stock, external investment factors, and contested vacancy rates, ‘innovators’ are in the very thick of Vancouver’s housing crisis, experiencing firsthand the decoupling effects of the housing and labour markets, and raising concerns about Vancouver’s uncertain future. In a post-industrial narrative dominated by its transnational housing market, Vancouver is rapidly outgrowing its capacity to absorb and control the externalities inherent in the neoliberal development model. The revival of the new economy provides promise and possibility amidst increasingly emergent issues of social disparity. New concerns arise in both the long and short term economic sustainability of innovation, the affordability of living, and the retention of the skilled workforce needed to sustain the new economy. Drawing on existing literature and theory on creative cities and cultural economies, and placing them within the context of Vancouver's unique social and economic landscape, this qualitative analytical paper examines the complexities and intersectionalities of Innovative Economies, residential development, and the delicate social spaces situated in between.
Item Metadata
| Title |
The Innovation Economy and the Housing Crisis : Examining the Decoupling of Vancouver’s Housing and Labour Markets and the Impact on the Social Landscape
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| Creator | |
| Date Issued |
2017-04
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| Description |
As Vancouver navigates economic development in its current-day economic climate, there is pressure to further define the city’s global identity as a progressive international hub through supporting and fostering tech and cultural industries - or as coined by the city: Innovation Economies. These innovative industries are creative, non-traditional, and entrepreneurial departures from the transnational finance, service, and resource-based sectors that dominate the city’s economy. A handful of districts and neighbourhoods have been identified in and around the Downtown Core as districts to develop and foster Innovation, with the bulk of the labour force primarily made up of young, entry-level professionals in the creative industries. In a residential real estate sector characterized by high costs, competitive and increasingly unavailable rental stock, external investment factors, and contested vacancy rates, ‘innovators’ are in the very thick of Vancouver’s housing crisis, experiencing firsthand the decoupling effects of the housing and labour markets, and raising concerns about Vancouver’s uncertain future. In a post-industrial narrative dominated by its transnational housing market, Vancouver is rapidly outgrowing its capacity to absorb and control the externalities inherent in the neoliberal development model. The revival of the new economy provides promise and possibility amidst increasingly emergent issues of social disparity. New concerns arise in both the long and short term economic sustainability of innovation, the affordability of living, and the retention of the skilled workforce needed to sustain the new economy. Drawing on existing literature and theory on creative cities and cultural economies, and placing them within the context of Vancouver's unique social and economic landscape, this qualitative analytical paper examines the complexities and intersectionalities of Innovative Economies, residential development, and the delicate social spaces situated in between.
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| Genre | |
| Type | |
| Language |
eng
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| Series | |
| Date Available |
2018-01-03
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| Provider |
Vancouver : University of British Columbia Library
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| Rights |
Attribution-NonCommercial-NoDerivatives 4.0 International
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| DOI |
10.14288/1.0362566
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| URI | |
| Affiliation | |
| Peer Review Status |
Unreviewed
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| Scholarly Level |
Graduate
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| Rights URI | |
| Aggregated Source Repository |
DSpace
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Rights
Attribution-NonCommercial-NoDerivatives 4.0 International