New Westminster Record April 15 2015

Page 1

NEWS 3

Combat fighters take over ARTS & ENTERTAINMENT 11

My Fair Lady wows crowds TODAY’S HOMES 37

Top 5 open houses

WEDNESDAY APRIL 15, 2015

LOCAL NEWS – LOCAL MATTERS

YO U R

H O M E TO W N

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N E W S PA P E R

Dance gets a second chance?

New report says in 15 years millennials will not be able to afford a home in NewWestminster

City politicos listen to passionate pleas to save Lancers’ dance but stop short of promising anything

By Tereza Verenca

editorial@newwestrecord.ca

Continued on page 8

39

NewWestRecord.ca

Homes only for the rich

Owning a detached home in New Westminster 15 years from now could be more of a pipe dream than a reality. According to a Vancity report called Downsizing the Canadian Dream: Homeownership Realities for Millennials and Beyond, if housing prices continue to rise while incomes stay stagnant, affordable communities like the Royal City will be a thing of the past. “New West has some good values right now, but the way the rate of incomes are increasing in relation to real estate, in 15 years, it’ll be a much more restricted market,” said Andy Broderick, vice-president of community investment at Vancity. “The traditional view of a home as a way to build your retirement or build equity will become less common.” The report uses the gross debt service ratio (GDS), or how much debt a person can have in relation to the income, to paint the picture. Canada Mortgage and Housing Corporation states housing costs should not exceed 32 per cent of a homeowner’s monthly income. Right now, the 2014 GDS for New West sits at 32 per cent but is expected to rise to 40 per cent by 2030. Areas like Richmond could

Tykes tangle

By Theresa McManus

tmcmanus@newwestrecord.ca

TURN, TURN, TURN Kali and Kadie Truong enjoy the sunshine last Sunday at Westminster Pier Park. Unfortunately the weather wasn’t as cooperative this weekend. Showers and heavy winds forced most people indoors.

The emotion was palpable in council chambers Monday night as supporters of the Royal Lancers fought for their chance to dance as part of May Day. David MacGrotty, chair of the Royal Lancers, said the group has been willing to work with the city to address any concerns or changes it would like to see with the dances performed at May Day festivities in New Westminster for more than 100 years. Council recently announced it was eliminating the dances from this year’s May Day banquet. “I feel for the traditions in this city.There is value in tradition. It’s actually priceless,” he told council Monday night. “New Westminster is a unique city which prides ourselves on our rich history. Not all history is bricks and mortar such as buildings and statues. City council will have public consultation prior to tearing down a 100-yearold building, or even cutting down a 100-year-old tree. How could a small group of seven people … tear something down without public consultation?” After listening to a dozen speakers urging the city to reconsider its Continued on page 5

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