Federal housing investment has the right idea and wrong targets
B.C. government wants to do the right thing but isn’t thinking about it in the right way
Construction for a new apartment building complex taking place on 128th St. and 102 Ave in Surrey. (Abby Luciano)
Housing is one of the many issues on British Columbians’ minds these days. The subject is two-fold — there is too little of it and its too expensive.
This is apparent all across Canada, but B.C. is noteworthy in how Metro Vancouver is one of the most expensive housing markets in the country. A 2023 survey by Habitat for Humanity Canada found 49 per cent of households spend half or more of their income on housing costs alone, and let’s not get started on the state of rental rates around here. Needless to say, living in the Lower Mainland is a test of financial wills.
That is why the provincial government has been making strides in easing the cost-of-living problems in B.C. From rent caps to the Housing Supply Act, the province is certainly taking what it sees as the best course of action to keep people from getting priced out of their homes and cities.
In February, Prime Minister Justin Trudeau announced the federal government would provide $2 billion in support for the BC Builds program “aimed at constructing thousands of rental homes on underused public land, which would then be available to middle-income earners in those communities,” the CBC reported.
BC Builds was formed by the Eby government as a $950 million income-tested public housing initiative to utilize crown lands and collaborate with non-profit housing providers, public agencies, First Nations, and community groups near public spaces and utilities.
The $2 billion federal commitment is a low-cost loan that the province will need to pay back later and will help to build 8,000 to 10,000 homes where rent is capped at no more than 30 per cent of the household’s income. In terms of building affordable housing, this is a sound plan that, along with the fast-tracking and zoning amendments of the Housing Supply Act, will make effective use of underutilized land.
That being said, it is far from being criticism-proof. As mentioned already, BC Builds is an income-tested program that intends for these houses to go to middle-class families. Right away, low-income earners are locked out unless they can boost their paycheques in time.
While it’s true that the housing issue makes affordability a problem across the board, it should go without saying that some people have less of a struggle affording homes than others.
Directing this initiative towards the middle-class and freezing out those who are in a far more precarious position does not solve the problem entirely. If anything, it relieves the pressure of some and leaves others out to pasture, including those who are already unhoused.
Canada has 1.3 million unoccupied dwellings and an unhoused population of 25,000 to 35,000 people. Figuring out the conclusion is far from rocket science. Sure, B.C. has its speculation and vacancy tax, but levying owners of empty houses and apartments can only go so far when there are, as Neil Young articulated, people sleeping in their shoes.
It all comes back to the need for more systemic change and people to demand it from the government. When left to do things at their own pace, politicians will more than likely introduce small-scale solutions in the name of “incrementalism.”
Housing is one of the multitude of woes B.C. and Canada face today, and it always feels like the solutions are not extensive enough. While federal and provincial governments have the right idea, they may not be thinking about it right.
