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Douglas Todd: NDP's housing plan is 'working,' says David Eby. Here's a reality check

NDP leader is taking credit for cutting rents by 13 per cent in three years, and lowering house prices, but analysts say reduced federal migration levels and a hobbled B.C. economy better explain the downward trends

“Our plan to make housing more affordable is working,” NDP leader David Eby has been repeating.

“In terms of rental housing, the fastest and most consistent decline in rents we’ve seen across the entire country is here in British Columbia,” he said.

Douglas Todd: NDP's housing plan is 'working,' says David Eby. Here's a reality check Back to video

“The average asking rent in our province, because of the interventions by our government, has driven rents down by 13 per cent in the last three years.” He placed extra emphasis on the word “because.”

Eby, who called himself a “housing nerd” in Wednesday’s TV debate, did not cite any statistics to back up how he reduced house-buying costs. But he often says he’s deterring speculators and stopping dwellings from remaining empty.

What’s the reality? The short answer is Eby may be able to take credit for housing policies of more than six years ago but, beyond that, other factors brought about the downward shift in prices.

Why have rents eased for many of the two million British Columbians who are tenants?

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