SEVEN YEARS OF NDP AND HOUSING KEEPS GETTING WORSE

As the housing minister and now Premier, David Eby’s approach has been filled with empty announcements and a lack of results. British Columbia now has the highest rental costs in Canada and the most unaffordable housing in North America. Unfortunately for young British Columbians hoping to enter the housing market, there are no signs of this improving under the current government.

Over halfway through their mandate, the NDP’s 10-year housing plan has failed disastrously, having built fewer than 16,000 units of the 114,000 they promised in 2017. This is a stark contrast to the 570,000 homes needed by 2023, according to the Canada Mortgage and Housing Corporation.

In Kamloops, the average home now costs $664,00, up from $377,000 in 2017. Meanwhile, rent is also up by $440 per month. It’s no surprise that studies show 75 percent of young people have given up hope of owning a home in British Columbia.

British Columbians deserve better.

It’s time for a comprehensive and strategic approach that addresses both the supply and demand sides of the housing equation, encourages investment, and cuts through the bureaucratic red tape stifling development.

A Kevin Falcon-led BC United government is ready to open the doors to homeownership and make housing more affordable.

The ‘United to Fix Housing’ platform promises new and innovative ideas, including a rent-to-own program. This program will require developers to set aside up to 15 percent of homes in participating projects for eligible first-time buyers, who will pay market rent with 100 percent of payments applied to their down payment.

This means renters can use their rent payments to help buy a home and addresses one of the biggest barriers to homeownership. BC United’s rent-to-own program will bring renters closer to becoming homeowners. Developers are ready to make this a reality — they just need a government bold enough to act.

In addition, our plan includes eliminating the Property Transfer Tax for first-time buyers on properties up to $1 million, saving buyers up to $18,000.

It also proposes using empty public land to build affordable housing by offering non-profit and market homebuilders 99-year leases at minimal cost, provided they construct below-market rental housing for families and seniors.

The plan also includes scrapping the PST on residential construction to reduce the cost of building new homes and encourage more housing development.

The NDP has had the last seven years to implement a plan that will help British Columbians save, but at each opportunity, they have failed to do the work necessary to make this possible. BC United aims to address the root causes of the housing crisis, ensuring that every British Columbian has the opportunity for a secure and affordable home.

United, we will fix it.