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What's hard to understand is why they keep on pushing "affordable housing" that no one can afford.
More non-market rentals and co-op housing is sorely needed. What exactly is stopping him from making this a reality in the province?
EDIT: Someone should send him Ricardo Tranjan's "The Tenant Class". Excellent read.
Yes, I don't understand why we don't start panic-building co-ops everywhere they fit.
It's not even about panic-building, just making it easier from a legislative point of view to get them done. Offer incentives and grants. The simplest more straightforward solution would be that there was a percentage of units in every new building destined for non-market, and slowly 'convert' units to non-market units in older buildings too.
EDIT: Aware that 'simplest more straightforward' has a very armchair-expert ring to it. I meant it in a 'this is a legitimate proposal they have the power to push and achieve' kind of way.
And I am taking your well thought out an straightforward solution, and saying with the prices being what they are, we should just panic-build coops. I'll take a 'leaky condo' at this point, I just don't want to be homeless.
Yes, it honestly does seem like an appropriate reaction at this point. Certainly wouldn't hurt.
(App double posted, deleted duplicate)
It's very simple, where's the money coming from?
The government would bankrupt itself very quickly if it paid for enough land and construction for even 5% of the population.
New home buyers don't want to pay anywhere near market rates to move into a co-op, and that's how much it would cost to buy the property and build them out right now. Developers/construction companies aren't the ones making buckets of money, it's the existing landowners that are raking the profits in.
Co-ops are a hedge against future cost increases, not a solution to current problems.
The government would bankrupt itself very quickly if it paid for enough land and construction for even 5% of the population.
Then do the max that doesn't bankrupt them. I'll be blunt, I don't really care what the monetary cost is. Money is fake. Housing is a necessity. If we can't even house our citizens, what good are we?
Every dollar spent on housing is coming out of the pockets of taxpayers. It doesn't make sense to bankrupt the government to try to house a few more people, because then everyone is going to be far worse off.
The housing mostly exists already or we'd have absolutely massive homeless populations (its less than 1%) its the price and allocation that is the problem.
Pricing problems can use alternative solutions. Raise property taxes on only the land by 10x, then return all of that money to every citizen equally. People who are using too much property for themselves will sell that off right quick to either a larger family or a developer. Congratulations you just made land cheaper everywhere and didn't have to spend a single tax dollar.
We DO have a massive underhousing problem that you should be considering, not just homelessness. The only reason many tens of thousands of additional people aren't homeless is that they are depending on the generosity and charity of people they know to give them a place to live.
We have more of a massive over housing problem than we do an underhousing problem.
There are far more couples living in 3+ bedroom houses than 4 person families living in 2 bedroom units.
The problem is distribution and pricing, not total units.
Pricing problems can use alternative solutions. Raise property taxes on only the land by 10x, then return all of that money to every citizen equally. People who are using too much property for themselves will sell that off right quick to either a larger family or a developer. Congratulations you just made land cheaper everywhere and didn’t have to spend a single tax dollar.
I am salivating at the thought, though honestly that seems even less likely than panic-building anything.
Or reuse some already-built housing. Large condo buildings cause gentrification; buy a portion of the units and make them affordable housing, below or non-market units. You save yourself the trouble and the building expenses, you can still raise taxes on 'land-owners' and you house people in dire need of housing. You also revitalize and degentrify areas. A lot of condos are owned as second-homes that are rented out, so the owners wont be unhoused. If they are concerned about loss of income, we all get together, push for raising taxes on the richest and on corporations and implement universal basic income.
(As an aside, a lot of buildings not-intended for housing that are not occupied can be repurposed as housing. We just need political will).
B.C. Finance Minister Katrine Conroy said she was pleased the federal government designated $15 billion toward housing, but concerned the money isn't set to start flowing until 2025.
Would be real nice if the federal government would act with some urgency.
Just adding a extra CBC video stating that the timeline would mean these projects won't be move in ready till 2030 if they don't start getting money 2025.