Earlier today, BC’s Housing Minister and NDP leadership candidate David Eby made an announcement regarding a major shift in BC’s housing policy.
Some of the most notable changes include a new anti-flipping tax on the resale of residential property within 2 years, Secondary suites becoming legal across BC in all regions and introducing a BC Builds program that will allow for partnerships between First Nations and private and non-profit organizations so they can upzone land and use public land in order to build and own their own units.
Other major items that were announced by Eby include a $500m rental housing acquisition fund so that rental buildings can be bought and protected, a new BC tax enforcement on people with poor incomes that also somehow have multi-million dollar homes as well as a crackdown on organized crime and suspicious real-estate transactions and new strata rules that will prevent rentals from being removed.
The entire backgrounder on all of the changes can be found in order here, here, here and lastly here.
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