Housing is out of reach!
There is no question, housing remains a top issue in our riding and across British Columbia.
Housing continues to be a primary focus for me and my BC Green caucus colleagues, Sonia Furstenau and Andrew Weaver. We demanded urgent action on the housing crisis repeatedly throughout the fall session of the Legislature, particularly in Question Period. [Here is my question to Minister James, Andrew and Sonia also asked questions.]
Government said they will address the housing crisis in the budget next month. They have committed to both increase the supply of housing and address the impact that speculation is having on house prices. Now, in advance of the budget, we are keeping the pressure on the NDP, making sure that they know that millions of British Columbians are counting on them to deliver on these promises.
The actions government take need to be bold. Our communities are in crisis as the prices of our housing goes up. At the same time, vacancy rates remain extremely low and non-resident speculators leave houses empty for much of the year.
The BC Green Caucus has been proposing decisive action. Recently, we proposed we follow the lead of many other jurisdictions across the world, such as New Zealand, by restricting non-resident ownership of real estate. We have also been proposing other solutions to restrict the impact of global capital and clamp down on speculation. The severity of this crisis, and the impact of global capital on our real estate, means government must take a hard, honest look at the problem and be willing to tackle it head on.
We love British Columbia!
The response from British Columbians to our proposal to restrict foreign ownership has been overwhelming.
A vast majority of the responses have been from people who have an intense love for British Columbia. BC is our home, but many people are feeling that they must leave their home communities, or even leave the province altogether to find economic opportunity in a place they can afford to live. As a result, we are hearing a variety of emotions from anger and frustration to deep sadness.
It is difficult to read the messages. British Columbians are distressed by the empty homes in their neighbourhoods and the hollowing out of their communities. Coupled with a lack of meaningful action from their government, people are fed up.
Government has a responsibility to protect the vibrancy and life of our communities. People of all walks of life should be able to live and thrive here.
Where to from here?
In light of the emails I have been getting, it was important I acknowledge the desperation and resentment I am hearing.
In the coming weeks, the BC Green Caucus will release further details of our policy ideas to address the housing crisis in British Columbia, and our expectations for what we want to see the NDP deliver in this budget. We are committed to continuing our work on these issues and doing all we can to protect our communities. With this in mind, please keep sharing your stories and feelings with us.
Thank you. I voted for the NDP but if they botch this in February, please collapse the government and call a snap election– you’ll have my vote.
Dean. Thank you for your comment. Adam
If the NDP are not bold and courageous in the steps needed for the housing crisis, one has to ask why? Whose interests are they serving, then?
With New Zealand clamping down on foreign ownership, it’s pretty obvious that a good chunk of that demand will go to other housing markets -like us here, if we continue to welcome it with open arms – and will really exacerbate our already dire situation.
Seems like a co-ordinated, international, response is needed to this monster of globalization.
Thank you so much, Adam, and Green Party for continuing to hold the NDP’s feet to the fire on this. It’s SO NEEDED. Keep going!
Rima. Thank you for your comment. Adam
I am deeply saddened but mostly very angry that our elected officials have done NOTHING to stop the realestate/money laundering farce happening in BC.
I always vote green. Regardless the pay for play political climate is killing this city. Actually it’s killed Vancouver. I have witnessed my neighbourhood die. Empty investments everywhere. The CRA, FINTRAC, and IMMIGRATION CANADA, BC LOTTERIES AND GAMING etc. are utterly useless and turn a blind eye. SHAMEFUL. My friends and family all have moved to more affordable provinces. We should have a foreign buyers ban and fix the problem. Real estate growth can’t go on forever! The lack of accountability in this province is REPULSIVE. Please do something. Anything. Demand it. Otherwise this city will be permanently hobbled by greed. This is the time. If not now. Then never. And you’ve lost a thriving city. Forever.
Jessica. Thank you for your comment. Adam
British Columbia needs to ban foreign ownership while we are in the midst of a housing crisis. We also need to ban corporate ownership of single-family properties unless the corporation is purchasing property for development purposes.
Citizens acquiring secondary properties should have to put a 50% down payment… A third property should be subject to an 80% down payment fourth property should be banned.
We should also remove the first time home buyers program.
Zoe. Thank you for your comment. Adam
I am a flower farmer in the lower mainland. We use almost every single foot of our property to grow flowers for our business. When i drive to different destinations around town i am constantly amazed at farm property with excessively large homes being built and surprise surprise, no one is farming the property. I am getting very resentful that i and my neighbors are all utilizing our properties as they were meant to be under the ALR and others are using them for homes that look like hotels with maybe 2-6 people living in them. Once this land is gone, its not coming back and no one in government seems to notice or care. Please put in regulations to protect farmland and make sure its being utilized for its original purpose. Too many people benefit from farm status that don’t contribute properly. Also, if speculation isn’t addressed with farmland, there won’t be any land left to farm because land is so expensive that the next generation won’t be able to purchase it. There isn’t one young person i know that thinks they will be able to stay here and farm where they grew up. I sense disappointment and deep sadness within the next generation because they feel like they don’t have a chance even if they have a good job. 60 to 80k per year is barely enough to make it around here anymore. Do something!
Catherine. Thank you for your comment. Adam
Plenty of thoughts! Born and raised in BC, I have watched while homes have been turned into investments, communities fragmented and broken, people made homeless, and more. The UN has plenty to say about the global crisis generated by speculative investment turning its attention to real estate, and has called for aggressive action by states, which it simultaneously comments on the unwillingness of governments to act on behalf of their citizens. They ask that housing be a human right in tandem with action.
It is the obligation of governments to regulate and provide legislation regarding activities and organisations that impact its citizens. There is not one rational reason or excuse for permitting foreign ownership of land or property here. If one does not live, work, and contribute to local communities and economies, one does not have any logical need for real estate, other than personal profit. Anyone who wants to stay here part time can rent or lease, homes, vacation homes, or offices. Leasing and renting from citizen owners keeps money circulating in our local economies, not disappearing into offshore accounts and the pockets of investors. And there is absolutely NO excuse for permitting foreign ownership of our arable and agricultural lands, putting our food security at risk, or at the mercy of foreign investors. Ending speculation and investment in real estate brings homes back into the price range of local people earning local wages – which is exactly where homes – any and all homes – must be priced. This also helps end the relentless paying into the coffers of big banks – in hawk forever, slaves to interest rates and for most, never owning the roof over one’s head. All of that is beyond ethically bankrupt, and is completely untenable. Any government that enables in any fashion – even by choosing to not take the appropriate action to put this right – is a failure and does not deserve to be in office.
Beth. Thank you for your comment. Adam
they keep building only one or two bedroom units ..just to maximize the number of units built leaving families high and dry in the process …its easier to look we are building 20 unit then only 10 ..family units ..and nothing being built at the current moment is deemed affordable ..families need affordable two to three bedroom units
Richard. Thank you for your comment. Adam
I am a senior, not quite 65 yet my a lot of my friends and I are facing the very same problems as I am. We are not homeowners. Some if us have lived in a rental space for many years, but there is absolutely no security should the landlord decide to sell, gentrify, or decide to implement any number of modifications to the unit. Money is tight for us and should any of us find ourselves in a place where we need to move, the consequences will be devastating. Most of us, as is, will be working well into retirement. We would love to move into some form of co-housing or cooperative,some of us preferring an intergenerational configuration while others prefer a seniors only environment. The problem with current co-housing is that due to the cost of land, the units sell at market value. This is fine for those who own property that they can sell, but for people like us who are renters and have small savings accounts or investments, this type of housing is out of reach. We would love to find accomodation, some sharing of communal space is something that appeals as well, but the main issue is a guarantee of being able to stay as long as one wishes without being subject to the whims of a landlord. There has to be some form of housing security like we see in many European countries for renters.
Claudia. Thank you for your comment. Adam
In addition, underlining my earlier comments, is this piece by William Rees in the Tyee (which I expect you have all seen, but in case not…)
In it he explains what has seemed to me for a couple of decades to be the obvious – yet politicians and others continue to ramble on about a housing crisis. There is indeed a crisis of people having their basic need and right to affordable local housing based on local incomes undermined by global capital, and Canada is poster child for that. But the problem is bigger, and MUST be addressed if there is to be any sort of future for us, and for our children. Governments and states MUST do their proper job of legislating to protect citizens, regardless of
“Analysts believe that “investors actively target countries with weak governance in order to maximize profits and minimize red tape.”” There we have it – “weak governance”.
“What might work are strong policy initiatives to re-localize land and housing markets. Massive taxes on foreign buyers or empty house taxes might help fix market inequities, but an outright ban on foreign ownership would be more honest and effective. In the absence of serious civil unrest, however, such “extreme” measures are unlikely to be implemented. Money talks — indeed, somewhat ironically, major resistance comes from thousands of local resident property-owners whose houses have made them millionaires and who are loath to give up their unearned bounty.”
So, the question really is whether or not this NDP government has the moxy to do what it must to be ethical and do its job – even the moxy of the previous Barrett NDP government to step up and make sweeping changes that will make BC better far into the future.
Beth. Thank you for your comment. Adam
Aside from clamping down on speculation. Rent control needs to be expanded! Rent needs to be tied to the unit not the tenant. And Pet restrictions need to be lifted! The BCSPCA has a great report on why descriminating against pet owners is doing substantially more harm. It is virtually impossible to find affordable housing that allows pets in Vancouver. The rentals that do allow for pets charge extortionate rent often double what you would pay for the same place with no pets. Landlords must not be allowed to descriminate against pet owners any longer! Enough is enough!
Darren. Thank you for your comment. Adam
No building or house purchase without verified canadian residency also proving a legitimate income to cover asking price / taxes plus a real name on title.
Jennifer. Thank you for your comment. Adam
This issue is the only reason I could ever leave my home – because we are almost at the point where affordability concerns are forcing us. And we’re doing well enough to afford a house. It’s hard to face and it needs to addressed right now.
British Columbians are in desperate need of this foreign buying and ownership ban!
We are outraged to see how Metro Vancouver is sold for a profit at the expense of the next generation, our children, whose dreams of ever owning their place fade away further every year!
The joint ownership between a local and a foreigner must be also banned, as another trick to let foreign money in, while the purchase being registered as a local deal.
Yes, we are all immigrants and we should only be able to buy property after aquiring legal status for residence and work in Canada!
If our Honourable Prime Minister is not up to the task, he should pack up and go.
Thank you Constantin…