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Real Estate

B.C. NDP addresses Vancouver real estate at town hall

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Town hall witnessed a real estate gathering hosted by the B.C. NDP to discuss Metro Vancouver’s “out-of-control real estate market” on Wednesday. The event was attended by more than 700 people.

Organizer of the event NDP MLA David Eby said, “These are serious issues, this is a major crisis, and we want the provincial government to take it seriously”.

The event started with Eby citing a long list of media stories highlighting questionable real estate practices. They also stated how housing practices are compelling residents to leave the region.

According to Eby, the region’s real estate is governed by “runaway speculation” that is “unpoliced, unregulated and rampant.”

The event was co-hosted by B.C. NDP Leader John Horgan alongside Eby.

He said his party will present two bills at the legislature this week, and one of them will close the loopholes around “shadow flipping.”

He said the other bill will be to keep a track record of who is buying homes in B.C., “So that we can ensure that if they’re buying homes from offshore, they’re paying a higher level tax than those people who are living here today.”

Paul

The author Paul