VICTORIA, B.C. – Today, the BC NDP introduced changes to the Property Law Act to implement a “Homebuyer Protection Period.” Sonia Furstenau, leader of the B.C. Greens and MLA for Cowichan Valley, has issued the following statement:
“On the surface, a move to protect prospective homebuyers is a good thing. I have been increasingly worried by the trend of prospective homebuyers waiving their rights to obtain an inspection or financing in order to have a competitive offer.
“That said, I have major reservations about this legislation. For one thing, it is leaving a lot up to regulation - the details of this ‘Protection Period’ have yet to be decided. By implementing the changes through regulation, the BC NDP are once again bypassing the essential democratic oversight of the Legislative Assembly.
“This legislation is also not a solution to the housing crisis. It should assist individuals hoping to buy a home, but the fact of the matter is that for thousands of British Columbians home ownership is increasingly unattainable.
“To solve the housing crisis we need silver buckshot, not a silver bullet. One significant change would be transformative investment in non-market housing, such as non-profit and co-op developments. The government would also be prudent to wean itself off the heightened revenue it makes from overblown house values via property taxes.
“I look forward to engaging with British Columbians as this legislation moves through the Legislature; but, I am increasingly concerned by this government’s reluctance for progressive policies and tendency to bypass democratic accountability.”
B.C. Green Caucus
+1 250-882-6187 | [email protected]