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As BC Liberals, we need to broaden our appeal if we are to win the next election.
Recently, I pledged to evaluate policy decisions through the lens of affordability. This means demonstrating how we will make life more affordable and make government work for all British Columbians.
British Columbians continue to struggle with housing affordability. Here are two ways that we can help.
Create More Housing Supply:
- Create incentives for the market to build more rental housing.
- Establish a fund for municipalities to speed up the development application process.
- Encourage municipalities to adopt a similar application process for developers across municipal lines.
- Use tools such as land value capture to increase density, particularly along transit lines, and to unlock higher land values to help pay for transit.
- Conduct a comprehensive review of housing development strategies in major municipalities in British Columbia.
- Partner with BC First Nations, one of the largest land owners, to provide more land supply for homes to be built.
Curb Housing Speculation:
- Create an evidence-based speculation tax for short-term house flipping including pre-sales, where some exemptions apply such as for major renovations and upgrades.
- Monitor and publicly report on housing purchases by foreign owners and speculators.
- Explore and review best practices to enhance the Real Estate Council’s ability to protect homeowners and safeguard the public interest.
Michael Lee is the MLA for Vancouver-Langara. Before entering politics Michael was a prominent business lawyer in Vancouver, where he worked for 20 years with forestry, mining, energy and technology companies across BC. He also has a strong record of community service for over 30 years, including with social service, educational as well as children and youth organizations. A son of immigrants, Michael was born and raised in Vancouver. He and his wife Christina have three young adult children.