Victoria’s mayor is frustrated City Council won’t be pursuing a foreign buyers’ tax.
“How can we make sure that people can have some kind of security with regard to housing, both rental housing and than for those who can, to get into the market?”
Lisa Helps says Council was divided four to four.
“People say it’s racist, which I don’t think it is, I think that’s not the point. It’s not applied to people who are coming to live and work in British Columbia with the changes that the Premier made earlier in the year.”
Explaining the most expensive housing markets are in Vancouver, Toronto and Victoria, Helps calls it a national issue.
“It doesn’t make sense to me that two out of three of the most expensive real estate markets in the country would have one tax regime and the third, Victoria, would have another tax regime.”
“We’re not gonna have a strong economy in British Columbia if people can’t afford to rent and buy homes, I mean… it’s the fundamental basis of economics, you need a place to go to work from and to return from work to at the end of the day.”
She says after the May 9th election, the new provincial government, along with the federal government, needs to come up with creative solutions.