Making existing homeowners poorer is hardly an affordability strategy (Vancouver Sun)

When 26 per cent of a typical new Vancouver apartment’s cost are government taxes and fees, the solution is not more taxes.

Housing expectations ran high after our last provincial election that saw a B.C. Liberal party win, then lose, thanks to a power-sharing deal between the NDP and Greens. But one could argue the 2017 election was really won and lost over housing as the Metro Vancouver region faced a chronic shortage of homes for all budgets, especially rentals. Now, two years later as we end the decade, let’s measure whether this new government’s significant market interventions and many experimental new taxes on housing, levied with zero economic analysis of impacts, actually improved affordability for all those millennials who want similar homeownership opportunities as their parents.

Here are the metrics that matter...

 

Image result for vancouver housing taxes

For More Information Click Here