Housing Minister David Eby proposes massive increase in housing supply to combat housing affordability in BC.
When asked about levying new taxes on existing home owners to reduce demand for housing, the Housing Minister instead countered by proposing a massive increase in housing. The Minister cited “profound concern about the housing that we are not building” and alluded to the tremendous potential for the Broadway Corridor, where both the Provincial and Federal government are spending in excess of $3.0 billion to construct.
Eby also expressed frustration with slow moving municipal bureaucracy in Vancouver and surrounding cities and remarked that “the subway is going to be done before the Broadway corridor plan is approved.”
By leaning on local governments with the threat of holding back transit infrastructure funding, perhaps this will light the fire under Vancouver City Council to deliver on the promises they made in the previous election cycle. With the Civic elections coming up on October 15, 2022 we are sure to hear more campaigning about housing affordability, but will we see actual results or just more empty promises