Will the housing bubble continue to grow, pop or slowly deflate?
This week both Adam Olsen and I were up in Question Period asking the government what outcomes they were seeking from their housing plan that was announced in the BC Budget.
We remain disappointed with the answers that we received and we continue to be underwhelmed by the BC Government’s plan to deal with our out of control housing market.
Their tepid response to our call for bold action is simply not enough. What’s more, they have yet to tell British Columbians what they mean by stabilizing the market.
Is the plan to stabilize prices at present levels? Is the plan to stabilize the rate of growth in prices? Or, is the plan to create a tempered market correction?
In this short video I demonstrate the three possible responses and urge government to do better.
One Comment
Is this article accurate? http://vancouversun.com/news/local-news/budget-2018-alr-advocates-say-farmland-threatened-in-absence-of-speculation-tax
If so, it surprises me that an NDP government, which says and appears to support farming in BC, wouldn’t have thought about the negative impact to farming. If the foreign buyers tax doesn’t include farmland, it will result in currently farmed land being taken out of production all together and forever, in the best and most productive farming regions of BC. First Site C in the Peace, then this.