
Photo: City of Vernon
Castanet put the provincial election candidates in Vernon-Monashee on the hot seat with a series of questions on issues of importance.
The topics were selected from among the top concerns of British Columbians in a recent Angus Reid survey.
We’ll run all eight questions and the candidates’ answers leading up to election day on Oct. 24.
Today’s question: What can be done to improve housing affordability in our riding?
Harwinder Sandhu, BC NDP
Too many B.C. residents struggle to afford a place to live. In the old days, this was an issue primarily of supply and demand. Now, with such a wide gap in incomes and redevelopment of city spaces, among other factors, the private sector no longer meets the market demands. Sixteen years of BC Liberal policies supported a ‘playground’ for real estate speculators and developers, driving up prices, and supportive housing supply lagged far behind the growing need.
The NDP’s Homes for BC Plan seeks to bring relief with a wide variety of initiatives. Significant progress has been made with measures to reduce speculation and unoccupied homes at the higher end of prices and with major investments in supported housing for those at the low end of pricing. Rent freezes and inflation-based increases will help improve affordability. The promised rent subsidy program for low-income families was blocked by the Liberals and the Green Party. A number of other approaches can be viewed on the BC Gov’t website.
To date, there have been about 150 new supported housing units built or approved for construction in our constituency operated by Turning Points Collaborative Society and the Vernon Native Housing Society.
I am eager to join John Horgan and his caucus to learn much more about the impediments to meeting our housing needs here and to contribute my thoughts on the creation of additional long-term solutions.
Keli Westgate, BC Greens
Encourage building affordable rental units. Establish public and co-op social housing.
We need to curb speculation and the impact of global capital:
- Restrict the impact of global capital on our real estate market, and reduce all types of speculative activity. This is key to cooling the overheated real estate market and bringing house prices more in line with local incomes.
- Increase the supply of affordable housing.
- Free up existing supply and ensure that new supply meets the needs of average British Columbians, not wealthy speculators. This is key to ensuring that we have adequate rental supply and that properties are used by those who need them, rather than sitting empty.
- Collect and disseminate key data to support decision-making and to crack down on tax evasion and fraud.
We could expand the speculation tax to Vernon to cool the market, support affordable housing strategies and plans.
Kyle Delfing, BC Conservatives
The BC Conservative party proposes reviewing the existing 95% of land in British Columbia that is Crown land – in consultation with First Nations, municipalities, urban planners, and other stakeholders.
We want to allocate up to 1% of existing Crown land to develop affordable housing for British Columbians.
Upon completing the review and successful implementation of our plan, the BC Conservatives would be encouraging all financial institutions in British Columbia to finance the development of affordable housing released from Crown land.
Also, we would Increase the threshold to qualify for the Property-Transfer-Tax exemption for first-time home buyers based on fair market value in respective B.C. regions.
Eric Foster, BC Liberals
Anyone who has lived in the Vernon-Monashee riding for a few years has witnessed the unprecedented increase in the value of local real estate and the cost of rental accommodation. Rental vacancy hovers around 1% and there simply isn’t enough supply for the demand. While real estate is market driven and there is little government can realistically do to lower the price of housing, there are policies and partnerships that could be encouraged that would help make housing more accessible.
It really depends on a future-driven mindset that provincial government takes while looking to partner with local government in achieving this goal. As land is developed or protected, and planning takes place, we must ask ourselves, “Is this the absolute best use of land?”
As a region of farming and rural living, certainly it is important to protect our precious agricultural land. But outside of the ALR, let’s encourage the building of higher-density housing projects when it makes sense to do so.
In addition to planning and partnerships, the Residential Tenancy Act in B.C. is often administered in a way that discourages purpose-built rental properties. It should be reviewed.