David Eby's Unsold Condo Tax Makes Zero Sense - Here's Why

I understand developers run businesses and want to make money. Obviously.

But at some point we have to look at why housing costs so much to build in BC in the first place.

Land costs more. Labour costs more. Materials cost more. Financing costs more. Then you add taxes, fees, red tape and bureaucracy on top of all of it.

So what happens when a developer realistically can’t lower their prices any further without running into financing issues or making the project unviable?

We add another tax because the units haven’t sold?

How does that help?

Keep making development more expensive and eventually projects don’t get built. Developers fail, leave, or decide the next project simply isn’t worth the risk.

Instead of blaming developers and everyone else under the sun, we need to figure out how to get more housing built for less money.

Unless the government plans on building and funding all of our housing (which will never happen), we need private developers willing to build it.

We need to find the balance between good housing policy, and creating an environment where people actually want to build here.

I don’t see how another tax on unsold housing accomplishes that. If anything, I think it risks doing the exact opposite.

We have to do better.

Nick Baronian PREC
REAL Broker
604-715-7966
[email protected]

#realestate #condos #NDP #tax #realtor