Worried about the future of housing in the Central Okanagan?
Rents are skyrocketing. House prices are too high. Many Canadians aren’t sure if they’ll ever be able to afford their first home. Others will have to leave their city in search of more affordable solutions.
Housing connects us all. And not enough housing affects us all. It impacts affordability and rental prices, and hurts the most economically disadvantaged.
There is a solution: Canada needs more homes.
A shortage of homes is driving up prices
For decades, Canada has not been building enough homes. Our population keeps growing (which is good), but the number of homes we build to house people hasn’t kept up. A shortage of housing supply combined with high demand means that the value of the homes that do exist go up in price.
Building more homes is not as easy as it may seem. There are a lot of steps to go through, each one intended to ensure that our communities grow thoughtfully and with care. And often there are barriers to getting homes built – and getting the right kind of homes built. Below is a list of common issues, and solutions.
Get informed about how your municipal leaders are supporting housing supply. Call on your municipal leaders to take action. Ask them what they are doing to support more housing supply and ensure they are taking advantage of the Housing Accelerator Fund to enhance density, reduce housing taxes and improve permitting processes.
Short for ‘Not in My Back Yard’, NIMBY’s may be supportive of more housing, as long as it doesn’t happen in their neighbourhood. The result is not only a lack of social housing, but also a lack of homes for families with young children – often called ‘The Missing Middle’. When NIMBY’s win, the community loses, and housing costs go up. Read more
We all deserve a place to live. Be supportive when your community grows, whether that’s increasing the density in your neighbourhood or building a new community nearby. Be part of consultations that ensure growth inward, upward, and outward. We all deserve a place to live. Read more
Policy Impacts Affordability
Demand is increasing with a growing population. However, construction costs are also increasing. Regulatory and building costs can stop projects from proceeding. We need more housing supply to meet the demand, not less.
Residential construction is one the most regulated sectors of the economy. While each approval or change seems like a small impact, together they quickly impact housing affordability. These changes impact housing of all types.