Tackling B.C.’s housing affordability crisis requires a multi-pronged approach. Since we launched our campaign in 2017, we've produced multiple reports and pushed for a wide range of policies aimed at tackling everything from speculation to renters’ rights.
Now, we are focusing on the top four policy changes that we believe will have the biggest impact on overall affordability.
The private sector cannot provide the housing at the levels of affordability that we most need, because it relies on a for-profit model. Affordable housing that is funded and coordinated directly by government can be delivered much more quickly, reliably, and helps to ensure that the units remains affordable – as a public good – forever.
A policy where local governments require that a specified percentage of units in a new development be allocated for uses such as affordable housing, social housing, housing for people with disabilities, or any other housing that meets a community’s social and economic priorities.
Land Value Capture
When a government decides to build or improve infrastructure in a city, all the properties around that infrastructure gain value. This added value is what economists call a windfall gain. A Land Value Capture (LVC) tax aims to capture those windfall gains so that they can be used for public good. LVC helps discourage real estate speculation and can be used to generate revenue for affordable public housing.
A form of rent control that ties allowable rent increases to a housing unit, rather than to individual tenancy agreements, which is the current model of rent control in B.C.