A Home for Everyone: A Housing Strategy for British Columbians

For decades, British Columbia and federal housing policy has placed a priority on homeownership. Current housing price levels are forcing a new approach as homeownership is simply out of reach for many households across the province, whether in urban centers, resource-dependent communities, or tourist-dependent communities. Building additional purpose-built rental housing will increase the variety of housing strategy for British Columbians and present a viable short to mid-term approach to improving affordability.

Available data suggest that housing prices have been driven up by investor demand and speculation. While this has created wealth for existing homeowners, it has also placed the possibility of purchasing a home out of reach for many British Columbians. This in turn creates pressure on the rental stock and other forms of housing, increasing competition for an ever-smaller number of units for moderate to low-income individuals and families. All too often these options run out and too many people face the reality of homelessness. People deserve housing options aligned with incomes in their communities. Taxation measures to address both foreign and domestic speculation should be considered to stabilize housing prices.

Also Read: Living in Brown County – Housing Element