BC NDP leader David Eby visited new housing developments in the Lower Mainland as part of his comprehensive action plan, which is expected to bring 300,000 middle-class homes over the next decade, BC NDP said in a press release.
“After years of unchecked speculation, finding affordable housing in a desirable community has become one of the toughest issues in B.C.,” said Eby. “We’re tackling speculation and cutting red tape to unlock the construction of hundreds of thousands of homes. We’re seeing signs of progress, like rent prices starting to dip, but we need to stay the course. If John Rustad dismantles our plan, these new homes are at risk.”
The press release highlighted recent positive developments, including a 7% drop in Vancouver’s rent prices and the fact that British Columbia is constructing rental homes four times faster than Ontario, indicating the plan is impacting. John Rustad has said building homes isn’t the government’s responsibility and has also pledged to repeal Bill 44, which aims to reduce red tape and accelerate townhome and fourplex construction.
“John Rustad wants to return to policies favouring speculators and wealthy investors, which led us into this crisis,” said Eby. “Our plan, however, brings people together, using every tool available to tackle the housing crisis. We won’t stop until the job is done.”
Key components of Eby’s housing strategy include:
- Addressing speculation: The Speculation Tax has transformed over 20,000 vacant condos into long-term homes, and a new flipping tax aims to reduce competition from house flippers. Restricting short-term rentals like Airbnb is also part of the strategy, freeing up more long-term housing.
- Streamlining construction: The plan cuts red tape hindering small multi-unit projects, promotes housing near transit, leverages public land for middle-class homes, and simplifies the creation of secondary suites.
- Supporting renters: Measures include capping rent increases at or below inflation, protecting renters from corporate buyouts, and constructing 10,000 student housing units to alleviate rental market pressures.
