WATCH: A survey by Habitat for Humanity shows the reality of B.C.'s housing crisis. The results found many are being priced out of ever owning a home. Victoria Femia has more.“Not only are Canadians feeling pressure on the housing side, they’re also seeing the challenges they’re facing around housing affordability trickle into their broader life choices and their broader quality of life,” said Alana Lavoie of Habitat for Humanity Canada.
“Three-quarters of British Columbians feel it’s a serious problem, which is the highest result in the country,” said Lavoie. “Overall the statistics in the survey are showing us that the challenge that’s being faced around access to affordable homeownership opportunities and affordable housing is keenly being felt around B.C.”In fact. according to the Interior Realtors Association, the benchmark price for a single-family home has gone up year over year.
“We think about what the median house price is relative to the median income. The median house is not really affordable to the median income earner in a lot of labour markets,” said Ross Hickey, associate economics professor at the University of British Columbia.“If incomes go up in Vancouver or Calgary we’ll see some movement in prices . As house prices go up in those markets some households get priced out of those markets and come to live here,” said Hickey.
Habitat for Humanity Okanagan has so far built 53 homes, housing 53 families as a way to help turn homeownership into a reality.Read