The Editor,
Re. “Tiny units suite deal” (The Tri-City News, Nov. 8).
The term “affordability” means to have the financial means for; bear the cost of; be able to afford. In view of this definition, one has to wonder what is Coquitlam city councillors’ understanding of affordability.
A wrongful and misguided policy that allows foreign nationals to buy property in B.C. is causing soaring house prices that are putting home ownership out of reach for many Canadian families. Therefore, domestic buyers are losing out as many young couples wanting to raise a family are not able to purchase a house.
What we need is to deal with the property prices and make them affordable to Canadians. Perhaps one approach is to follow New Zealand’s example; its government passed legislation to ban foreign buyers from purchasing existing homes in an attempt to alleviate a housing crisis by halting a trend among the world’s wealthy to snap up property.
As BC Green leader Andrew Weaver said: “It’s not about stopping people from owning homes who live here and pay taxes, it’s about ensuring British Columbians can live in homes in British Columbia.” He also said: “When we turn our real estate sector into one for speculation as opposed to living, we have a problem.”
A huge problem B.C. already has is the system is failing to protect its most vulnerable — most notably, the elderly, who cannot afford a roof over their heads.
In the meantime, Coquitlam councillors are suggesting that developers build a 300-sq. ft. habitat. Will this solve the affordability predicament? Who would be able to live in such a pigeon cage?
If wages are not sufficient for a family or a retiree to rent a Coquitlam basement suite due to the ridiculous asking prices demanded by the new flow of immigrants who purchase most of the available houses, how would reducing the sizes of units make purchasing or renting affordable? Is this a step towards solving the problem or merely applying a bandage?
Whereas a large number of Coquitlam houses and apartments are not occupied by the people who purchased them or, in some cases, they remain vacant, the 140 units of below-market rental housing that resulted from the affordability strategy launched in 2015 seem to be wholly inadequate and shortsighted.
Unless British Columbians have legislation banning the purchase of existing homes by foreign buyers, Canadians will continue being displaced. Is it not the purview — indeed, even the responsibility — of government to protect its citizens as opposed to catering to those for whom Canada is not even home?
Marta Posilovic, Coquitlam
