We have already seen hyper-inflationary price increases in many sectors; shipping, lumber, gasoline, heating fuel, and the leader of the pack, real estate. An impoverishing trend that has a huge demographic priced out of home ownership, at a time when becoming a homeowner could help to hedge any hard earned wealth they have earned.
Canada’s largest land owner tells you they care about the plight of the low and middle class Canadian not being able to afford a home for their family, and then turns around and spends federal & private land management proceeds for anything but actually improving the housing crisis. Their promises are just like the supply chain – broken at best.
If the provincial government released another 2-3% of Provincial Crown Land into the private saleable holdings we would see an immediate and lasting impact on the real estate market as supply would increase dramatically and prices would stop their continued rise. The uplifting economic benefits of homeownership could continue to grow the economy and the province and its residents would actually benefit as a result instead of being continually penalized for a population growth issue that has been neglected by governing bodies in BC. The released crown parcels could be ear-marked for specific types of qualifying multi-unit and single family affordable housing which could actually be affordable!
The competition is getting tough in several regions including 100 Mile House, Williams Lake, Prince George, Fort St. John, Smithers, Terrace, Kitimat, Prince Rupert, Fort Nelson, Mackenzie and Quesnel all saw incredible sales figures and record prices. Great demand and small supply continues to create multiple offers on medium to lower priced housing. Read More>