Regional housing report too conservative – CHBA

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“What I would say, which is mirrored through the builders, is a concern overall for housing affordability, because it impacts the ability to hire trades,” Winer added. “If they can’t afford homes, it takes more time to hire people and building slows down, which means more carrying costs get passed along to the consumer.”

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Without considering the number of people moving here, the housing report indicated 12 per cent of the region’s households are in core need with affordability being the main challenge. The region is facing a backlog in unmet need for affordable housing units ($500-$1000/month rent range), specifically for one-person households in the age range of 45-64.

“Those estimates for population growth are not at the level they need to be, to actually get to the point where we can have affordable housing,” Winer stated. “It’s great that we are trying to fill the gap and stop the bleeding to get people into homes — the projects we see from B.C. Housing in Vernon, Kelowna and West Kelowna are a testament to that — but I think we are going to need a lot more than that, to have homes the average Canadian can afford to own one day.”