Tackling B.C.'s housing crisis

In B.C., affordable housing remains out of reach for many. The average price of a home in Metro Vancouver is $2.3 million. The federal government made affordability a priority in its recent budget, but some say it still misses the mark.

[berry]

the problem is everything the build now is luxury homes we need starter homes that are priced right

[libshastra]

I think we should admit that City councils are responsible for the housing crisis. Even if the Federal govt. opens it's wallet to build housing, it won't have an impact as long as City councils keep delaying and refusing permits. It takes about more than 2 years for a permit to be approved for development. Especially considering double digit growths in housing prices, the long drawn process just exasperates the housing crisis.

The other issue is city councils are way too inclined towards 30-40 storey glass towers rather than medium density multi family units (4-5 floors with 900 -1200 sqft 2-3 bed units) aka missing middle. These units are quicker to build, easier to maintain and strike a nice balance between single family homes and dense housing. This is the trend we need to move towards.

The final issue is lack of co-op housing options. In a hot market like this, co-op housing is a great way to reduce the debt burden of home owners and cool the market. The province needs to start putting more money into BC housing and encourage co-ops.

But none of these solutions are viable as long as City councils stay the same way and refuse to change. The silent victims of high housing prices are small businesses. We lose small businesses and our local economy becomes unsustainable.

[lorainestjames]

At the rate that rents are rising many citizens are paying as much as 70 to 80 percent of their incomes on rent and utilities have risen which is added pressures on both renters and home owners. Increased taxes on goods and services have also increased and higher property taxes get passed on to renters. Gas prices transportation and food continue to increases to the point that many cannot afford . Homelessness continues to increase and others are deciding to flee the Province and the country as well. Social unrest will just continue to escalate.

[kaml.]

It is not the people's fault who have to live poorly in order to pay their rents or mortgages. Rather, it is the government's downfall when looking after its citizens' welfare is not even on its top list of priorities!

[hopper]

This video title is an stretch. What is the problem in Canada? Zoning. Zoning. Zoning, Zoning. There is enough space in the lower 10% of the country from coast to coast for most canadians to own an acre.

[michaelhart]

try working and living on disability that only pays 1378 a month. and most landlords wont accept that as a proof of income and for a lot of people, thats there only source of income. BC needs to raise the disaiblity rates to at least 1500 a month to make life more affordable to live!

[jacobrocks]

Unfortunately, High prices are common in many places in the world ..simply supply and demand ....

[James-eqcq]

I'm 27 years old with a house in North Van with a college diploma with work experience in accounting. I've hustled since I was 16 and could afford a down payment by 25. It's unfair that I've sacrificed so much of my social life while people expect the government to subsidize their lives so they can get a house. Either move to another city/province or work hard and you'll be able to get a home.

[basilperdikakis]

Maybe we should try to limit foreign students who make 18000 dollars a year from purchasing 183 million dollars worth of real estate?!? (that actually happened last year) End foreign investment in real estate and force divestment of all non-citizens or permanent residents. Put limits on domestic speculation and end the use of numbered corporations to hide ownership. Pretty simple really. Our government could pass the legislation in a couple of weeks.

[aynrandfan]

My mortgage is 7500 a month for a 6 bedroom in richmond not too bad only 1.2 million left (parents bought for me at only 2.98)…great investment overall the assessed value is already over 3.6 million…we need to insure those who invested in their homes can retain the value well into the future as part of a strategic and well rounded retirement plan

[jenniferfitzgerald]

How does the labor board allow East Indians to wear their turbans and not a hard hat on construction sites?? Then the Caucasian’s are wearing hard hats, Should be same safety rules for everyone! That should be a safety violation.

[bishopbrathwaitee]

More whining. The common denominator is supply and demand. Always will be people. Chiming in Feb 2023 and supply is low. Too bad. Everyone wants to live here. When the interest rates climb, supply will experience values decrease, then owners clam up and stop selling. The cost of living in Vancouver is astronomically high. Crime has accelerated, left- leaning Liberal views and ideology have allowed Vancouver to deteriorate. Lived here all my life and moving out. I have money, retirement funds, done fairly well in life but I am NOT spending it in the lower mainland. I simply grasp supply and demand, understand it, but have options. Vancouver is not pinching my hard earned tax dollars. Rich foreigners can have it.