Election day in B.C. is coming up this Saturday, and housing affordability is one of the most pressing issues on the minds of voters leading up to the big day.
The Central Okanagan chapter of the Canadian Home Builders’ Association knows housing like few other industries, so it is well aware of what needs to be done to allow more people to be able to afford their own home. Canadian Mortgage Housing Corporation estimates that B.C. will need more than 3.5 million additional housing units over and above what CHBA-BC is projecting to build by 2030.
In an effort to end the housing crisis, CHBA-CO is educating B.C. voters—before they step into the booth this Saturday—to ensure they are educated on the topic before casting their ballots.
CHBA-CO says B.C.’s housing crisis requires a multi-faceted approach, with the most important being combating the shortage of skilled tradespeople. The issue has been exacerbated by retirements and migration to provinces like Alberta. The construction industry needs to recruit more than 50,000 workers by 2033 to maintain service levels. Enhancing trades training, increasing funding for educational programs and expanding support for young learners are proposed to bolster the workforce.
“Overall the largest issue facing residential construction in the Okanagan is the lack of skilled trades and the fact that we aren’t building homes for skilled trades to live in,” CHBA-CO interim executive officer Cassidy deVeer says.
When skilled workers are scarce, their wages typically rise due to the demand for their services. These increased labour costs are often passed on to the buyer, resulting in higher home prices. This makes housing less affordable for the average resident and can push new homes out of the financial reach of many potential buyers.
The housing crisis also affects community infrastructure and public services. Without sufficient housing for skilled workers, regions may also face shortages of professionals in health care, education and other critical services, which can affect overall community well-being.
The cost of building homes in B.C. also significantly impacts the housing supply, with fees and taxes from multiple government layers making the province one of the most expensive for new home development. Recommendations focus on reducing government-imposed costs, increasing transparency and predictability in fee assessments, and eliminating redundant charges to lower the overall financial burden on homebuilders.
Furthermore, transitioning to low carbon housing solutions is imperative for sustainable development. The government’s support is crucial in expanding investments for residential construction to meet new efficiency standards and in accelerating the upgrade of electrical infrastructures to support these advancements. These actions are essential to making new, environmentally friendly homes more feasible and accessible.
Now that B.C. voters know what needs to be done, CHBA-CO is hoping voters will take it into account when casting their ballots this Saturday.
More information about CHBA-CO can be found on its website here.
This article is written by or on behalf of the sponsoring client and does not necessarily reflect the views of Castanet.