It has been a few weeks since the new NDP government delivered its 2019 provincial budget. It proved light on new housing measures, with the only significant new spending a $76 million investment to buy land and build additional modular homes for the homeless.

According to the 2019 budget, housing starts for 2018/19 were 40,857 units, and this will fall to 34,015 units for 2019/20, 31,946 units for 2020/21, and 30,517 units for 2021/22.

This slowdown in housing starts will result in fewer homes, taking us back to average levels in the 1990s.

This chart from Stats Canada puts the supply issue in Metro Vancouver into perspective. From 1971 to 2011 (projected out to 2046) we’ve always had a severe housing shortage. It has always been a problem. In my opinion, the spread could actually widen over the next 25 years as the population grows (approximately 40,000 – 60,000 people per year). Developers’ group warns that government measures could lead to the delay or cancellation of 12,500+ new rental units.

Budget 2019 offers little to encourage more housing options for British Columbians and zero incentives for purpose-built rental homes. In my opinion, no new rental units or affordable condominiums are going to get built under this current government. It’s the exact opposite of what we need to be happening right now.

Furthermore, there was no sign of the $400 annual renters’ rebate promised by the NDP government in its 2017 election platform.