B.C. Green Party leader Andrew Weaver questioned housing Minister Selina Robinson on the B.C. NDP government’s intentions to take action to cool the housing market.
“Last week at UBCM the Premier indicated that his government’s solution to the problem of housing affordability is to simply add more supply,” said Weaver, the MLA for Oak Bay – Gordon Head.
“Once more our government has missed the glaring problems on the demand side. When in opposition, Minister Eby was a fierce critic of the government’s failure to act, and argued that the bare trust loophole costs British Columbia hundreds of millions of dollars that could be used for affordable housing initiatives. The government can take action immediately to close the bare trust loophole that incentivizes speculation, discourages transparency and encourages property tax avoidance.
“The B.C. Greens are committed to proposing bold solutions to the affordable housing crisis that is facing so many communities. I have previously called for the non-resident foreign buyer’s tax to be extended to the entire province, as communities from Victoria to Nelson face a housing crunch. I have also called for a ban on foreign ownership of ALR land over five acres, in order to stem speculation and protect British Columbia’s food security.
“The purpose of housing should be to provide homes for British Columbians – not a commodity that is wide open to international speculation. The B.C. Greens will continue to propose bold, actionable solutions to the housing affordability crisis that is uprooting so many communities across our province. As an opposition caucus, we will continue to push government to take action so that no British Columbian is faced with the terrible reality of being priced out of their own community due to real estate speculation.”