The new federal government made some big promises during the recent election campaign.

With the goal of doubling the pace of housing construction, the Liberals proposed direct investment in affordable housing, low-cost financing, a push to reduce red tape and cutting municipal development fees in half.

The latter three ideas are wholeheartedly welcomed and—if done correctly—should help increase supply. While doubling the pace of construction is far-fetched, any improvements are appreciated.

Direct senior government investment in much-needed affordable housing is important to fill gaps in the system. The private sector can’t and won’t build housing that is not economically viable. But, as we have seen in B.C., government lacks the ability to deliver at the scale required, and the temptation to play politics with taxpayer dollars can overwhelm any good intentions.

Eight years after the provincial NDP committed to building 114,000 affordable homes in 10 years, BC Housing figures show that the various provincial funding programs directly resulted in only 3,178 completions during the 2023/24 fiscal year, and just 20,422 over the past five years.

At this pace, it will take 28 years to deliver the promised 114,000 homes.

The results are so far off........

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