ONLY VOTERS CAN DEMAND AFFORDABILITY

In a recent CMHC survey, British Columbians ranked housing affordability the #1 priority. Yet the BC govt is proposing a transit tax on the construction of new homes. There is a better way to improve transit. An amalgamated Calgary started LRT in 1981 and recently received an additional $1.5 billion in federal funds to extend the line. BC is launching a new building regulation called the Step Code to address climate change. The Step Code will save up to 2 air changes per hour in new homes, adding $40k to $100k per home. There is a better, more effective way to reduce greenhouse gases. A renovation tax credit could save 20+ air changes in existing older homes at much less cost. Clearly, despite the claims of elected officials, housing affordability is not their priority. In fact, by layering costs on mortgages, govt has become a rising financial burden to new homebuyers, with no end in sight. Their claim that costs are paid by builders defies logic. The cost of creating any product is borne by the purchaser. Govt’s added costs almost double when paid via mortgages at 6% over 25 years. BC’s average home price is $180k above Canada’s, in a province where elected officials claim housing affordability is a priority. Their claim is not credible when code regulations, fees and taxes offering little benefit continue to increase, sometimes by as much as 150%. You can demand better. Contact your MLA at www.leg.bc.ca/contact-us as well as your municipal council. Send them a link to this column at www.vrba.ca/ building-industry-news Only voters can make housing affordability a priority in BC.