BC Rental News

The BCNDP Housing Plan Has Failed
March 5, 2021

The BCNDP came into government with a promise to build 114,000 affordable homes in ten years. These 114,000 affordable homes would greatly ease pressure off of BC renters, especially those with lower incomes who need the most support.

Three years into the BCNDP government… they have completed only 2,963 affordable homes. This is 2.6% of the promised units.

Even though the government has already spent a lot of taxpayer money on modular and affordable homes, in reality, their delivery is far from what was promised. At their current pace, it will take the BCNDP more than 100 years to fulfill their promise to build 114,000 affordable homes.

If you look at the affordable housing strategy on the government of BC website it doesn’t take long to realize why their housing strategy is simply not working:

– The BCNDP is taxing working British Columbians to pay for all their affordable housing instead of partnering with the private sector. Taxpayer money will never be able to provide enough affordable housing, and the burden it places on hardworking British Columbians will bring the economy to a screeching halt in the process.

– Their strategy makes the government the sole provider of affordable housing, which is highly inefficient and is not a long term solution.

– Each year their strategy is providing much less affordable housing than we require, making the affordable housing crisis worse as BC’s population increases year by year.

– Their strategy of focusing on providing only the very bottom end of affordable housing while neglecting the big picture of a healthy market is becoming counterproductive. More and more British Columbians are needing government assistance because of increasing lack of supply in the regular rental market.

Every year that goes by under this failed government strategy means less housing is built and more people are left out without adequate housing. The tents popping up throughout B.C. are evidence of their failed strategy.

Where the rubber meets the road, this BCNDP strategy is not working and will never work:

– At minimum, 40,000 people move to the lower mainland every year. Nowhere near that many homes are built.

– Of those moving here about 9,000 require rental homes but less than 4,000 rental homes are built every year. That means more and more renters getting squeezed out of the market each year and rents go up.

– It is not possible for the government and social housing to be the sole providers of the 9,000 new rental homes needed each year.

– We cannot tax and spend our way out of this housing crisis and that is exactly what the BCNDP is trying to do while neglecting the market fundamentals.

– The world and the rest of Canada want to live in Vancouver and that incoming demand causes our housing crisis.

– The home building industry provides over 230,000 well-paying jobs to B.C., as well as billions of dollars in government revenues and economic activity.

– Misinformation is rampant in BC. We can deceive ourselves and plug holes all day, thinking we are solving the problem, as we deal with issues like; foreign ownership, Airbnb, money laundering, vacant homes, housing for the most vulnerable, increased rental regulations – you name it. But if more actual rental homes are not built, we can try to solve all these issues ten times over and our crisis will still be getting worse each year.

This BCNDP government has failed to deal with the root causes of our housing crisis. Their strategy is causing us to fall further and further behind each year.

It would be amazing to see what British Columbia could do if we worked together and brought the full resources of the government and our housing builders together to work towards a rental housing boom.

The BC Rental Newsroom