As real estate agents, it is our professional goal to connect customers with their dream homes. It is our ethical duty to ensure that we are able to fulfill dreams and aspirations of so many families across our community. But, in the recent months, the rising cost of homes has led to decreased home ownership opportunities.
In Metro Vancouver alone, the value of residential real estate has shot up to about 80% over the last 10 years. In addition, the value of detached homes has also risen by 110%. All bodies across the state are looking for viable solutions to counter this issue. The Government at the provincial as well as municipal level has tried to counter the issue by applying taxes. But, in retrospect, taxation rules won’t directly affect the reduced supply of homes or affect the prices of the homes.
Affordability is a very important issue that needs to be addressed in every province. At no point should there be a situation that the citizens are not able to afford...