BC Government Eliminates Zoning, Massive Housing Density Coming 

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And then the same people who don’t want government intervention in anything also complain about immigration and that nobody has families anymore. Like if you hate immigration and want people to have families you need government intervention to make sure that the private sector creates conditions so that families can exist and we can have a replacement level fertility rate.

And 26,000 empty homes used as a swarm of artificial valued property for speculation gains. Ok call it laundring. All the crooks and government gain at a deadly result for the entire country.

the reason is the municipalities punish developers with off site charges forcing unit sizes down because it pushes the unit costs too high. Then they turn around and raise taxes because of 'new off site infrastructure costs'. The builders nave already paid for these and we watch the money get wasted on other 'stuff'

@@elbowstrike ya but the government dont do shit other than just makes things worst waste taxpayer money and give themselves big paychecks n bonuses for doing nothing

Very fair comment, there is a lack of mid sized housing options due to specific regulations that make it difficult to build the kind of housing people need. Utae Lee just released an excellent video breaking this down

Depends on what the development fees covers. It must be applied to something. So will the taxpayers will be forced to pay instead?

@@angus7278 I suggest they return to the same way it used to be when there was no development fees yet somehow real estate development got done. And it took only a couple of months to get permits as the building code was the priority.

@@angus7278 And when you consider cities like metro Vancouver don't even pay for the transit system The same as all other cities have to In other words they have lower operating costs than everyone else at the same time as they have the highest cost of development fees and permitting processes And a huge bureaucracy for that that's not even needed Metro Vancouver has 28 mayor's and mayor's offices with 28 police chiefs,28 fire chiefs 28 of every thing they only need one of Will mayor's and city councilors who become millionaires as mayor's and city councilors.who collect 6 and 7 paychecks when it should only be one.

@@angus7278 what do you think it costs to operate 28 mayor's offices with a couple hundred councilors Who are only responsible for building permits,sewage and water policing and most of the city sts except highways and bridges or provincial highways. While the province operates and funds public transportation and bridges. In a city of 2.2 milllion and some of these towns that make up the city have 100s of billlions in investment funds from the development fee's!

@@angus7278 the best part is they obstruct industry they don't want industry So that's why there's no money for the average citizen to buy a house most can't even afford condos. Because metro Vancouver is a service economy a bedroom city where the politicians in the province the members of the legislature the mayors the city councilors absolutely object to any kind of industry.

yes, took me 15 months to get a rezone for an alley house last year, lol. Now its for not, a waste o money but a valuable lesson

Catch 22 - nothing gets upgraded unless more utility and property taxes get collected. High density allows more taxes to be collected per block

Who will pay their property taxes if they have no water to drink or a sewer system to flush their toilets into? Maybe for once we should expand the infrastructure (which is already bursting at the seams) and then increase housing density. So many people can’t get a family doctor and they want to double the population… shouldn’t we solve some of these problems before we make them even worse?

1st. Only in surrey are the schools overcrowded 2nd The high rise condos will be built without parking garages. 3rd The developer gets stuck with the cost of sewer and water upgrades. 4th And most importantly. No one in the entire country, who doesnt already have a family doctor can find one,

Good points but due to a slowing birth rate albeit higher life expectancy and people are healthier as they age now ie. look at Japan with 10,000's of people beyond a 100 in excellent health. Many elementary/sec. schools are below capacity.

People will not move there for the jobs if there's no affordable housing. That's the number one obstacle for finding nurses and construction workers right now. They don't want 50% of their income going to rent! Therefore, got to start somewhere - or perhaps everywhere, simultaneously.

you're correct on the soil condition. Richmond is a delta situation and it's soil is river sediments which no one can dig underneath. so building any high rise there doesn't make sense because in an earthquake situation, it will experience liquefaction and the airport nearby means flight path, where they can't build too tall of towers as that's where planes land/take off. so this policy change of mandatory rezoning broadswept across the province is another mistake that the NDP government made

it's a free market, because that is the environment we live in and we as free Canadians can make our independent decision with freedom,

Governments also forced people out of work... fucking supply chains and productivity.

​@@DummMoney-rr1filol...

That was fine. It was us killing softwood lumber and selling off forestry contracts to capital groups fir carbon credit offsets so they can jet around and virtue signal. Causing kleenex to leave because they can't get consistent paper fibre byproduct from lumber...concrete hit with crush carbon tax, brick, glass... copper and aluminum. While moving 2 million people in and building less homes per year than the 1990s.

​@@dootdoot1867You're out of your element, Donny.

Ridiculous, they have done that for all the train stations already,except it wasn’t mandated by the provincial government.

@@KS-bi3ogso many single family homes around skytrain stations. Waste of infrastructure

Yup-Exactly right

Using taxes payer dollars to build a home for you?

Pierre P. keeps pointing out the red tape that drives the costs of building through the roof. It shouldn't cost hundreds, or even tens of thousands of dollars to acquire building approvals.

@observer168 Feisty 🤣. Not for me but the generation after. I don’t mind my tax dollars being spent for co-ops.

@@jeff-w yep its ridiculous especially in Vancouver to get permits n stuff to build houses tales forever and they charge so much

The cost of construction is a function of the rapacious trades milking the crap out of real estate...350 per hour for a plumber with 2 yrs of bcit schooling and grade 10 math.....vomit inducing

Anywhere else he'd be luck to charge out 60 bucks an hour at best

Some plumbers are really taking advantage of people. They can charge you $500 or more for 30 minutes of work for something like a sprinkler leak in the middle of the night or on a holiday.

What a stupid step code it is !!! Currently building ourselves for personal ( husband is a licensed builder costing us more and all the stupid stuff we have to do .. remove Low E from south facing windows to let more sun in in winter. Did this to our last build a d our AC broke down during a heat wave. The people who made the step code need a real life building lesson

🙏🏻

Well designed for Japanese people. Most Westerners think it's cool when they go on a trip there otherwise way too crazy and dense to live there 100%. But we're obviously not planning Canada for Canadians anymore but rather an imported replacement.

95% of the entire lower mainland is urban sprawl, including 99% of the frazer valley

This is precisely why the NDP have authorized Translink to participate in the real estate market, particularly around it's TOD oriented station expansions to Skytrain going forward. I forget the name of it, but Translink has created an independent real estate division/entity that will be responsible for managing the properties in question. This is by no means the perfect approach, but it will allow Translink to capture the capital growth and profitability of the lands immediately adjacent to TOD station developments and to buffer it's operational expenses accordingly going forward. Long-term, it may even have an impact on capex costs for Translink, providing some much needed breathing room from total dependence on government subsidization for all major Translink infrastructure projects (not that the BC government has ever been shy about financing capital projects; certainly far less shy than in the subsequent financing of the ongoing operational expenses for those projects post-completion, lmao). This combined with the impending changes to zoning around Skytrain TOD policy could enable Translink to capture some very valuable land and erect some very valuable, non-Skytrain assets directly adjacent to it's current and future Skytrain stations. Hopefully, this will lead to Translink eventually developing combined, integrated, mixed-use, publicly accessible high-rises on every viable station structure, vastly increasing the value for the station to other commercial, residential, and service users nearby and providing much needed, transit-oriented development. I expect the BC NDP intend to provide some sizeable capital injections to this expanded Translink real estate development model, given that's exactly the kind of feather they like to keep in their hat.

@@RosscoAW Excellent writeup. I worry it's already too late for Translink to capture much value; the land surrounding their rail lines is already owned. Hopefully they will build many more lines going forward, and buy the to-be-upgraded land in advance of that. But the timeline for that will doubtless far exceed the tenure of the BC NDP.

R1 zoning is bankrupting cities all across North America

BC thinking about supply and demand? One person must have read the wikipedia entry on economics in the last 20 years here. Congratulations on David Eby for having half of a functioning brain. Hmm, increase supply... What a groundbreaking thought lol This province is full of people who sniff their own farts.

Should Ban AirBnB scam as well. Come on Eby, you have shown that you have Balls to do it. 👍👍

Agreed on the balls and making unilateral decisions. Not very democratic, lol, he would be better served living in North Korea. I love his policies, because the more changes he makes the more new ways that come to leverage RE to make huge gains. Bring on the new STR model of every SFH being a cash cow for PR owners.

@@BoomBoomBoom2023 are you aware of the new Airbnb rules in BC?

Exactly

The ones that can’t afford to buy in nicer locations

NIMBY's have no recourse. Whining in city council will do nothing. The judicial system will have nothing to say about it, as it's purely a provincial prerogative, and one that the BC NDP have a clear and invariable mandate to enact. We voted them in for capital projects and policy progression precisely like this, and it's taken them more than long enough to do so. Boomers that don't like fourplexes popping up on both sides of their dystopian, ugly single family home are just going to have to suck it the fuck up, buttercup.

The infrastructure, especially in transportation in Vancouver and the Lower Mainland, is already 100 years behind

Yes under FAR (floor area ratio)

Seems like FAR is no longer a tool available to limit construction.

Yes

Over 60% of Canadians already own homes. Doubt they care if you own a home or not.

Equity? No fake value

Prices will come down and rents will come down when nobody can afford to pay. There will be empty apartments and homeless people sleeping in the parking lot. And then prices will fall as nobody makes enough money to afford the prices. This still isn't "affordability" it's just prices going down "in dollars" that nobody has.

Singapore successfully carried out a massive public housing campaign. 80% of the population live in government built flats. It’s possible if the political will is there. I’ve seen them in person - they look good!

@@angus7278 the Canadian government isn’t even close to the efficiency of Singapore’s government. Too much bureaucracy and red tape so nothing gets done.

Noted

The units are still selling, it’s just the ones buying are all above average income earners.

Or will it have the opposite affect? There will be so much land available for developers to pursue, the "specialness" of buildable land is lessened and I can see the values decrease. Developers are still going to need to offer a decent return to get people out of their houses, especially if they have lived in the house for 10+ years and are not affected by the tax increase. So who knows where this will go. @Steve what is your take on the value of land going forward?

@@freedomliberty83 Land should not devalue, because there are not enough construction workers in HCOL areas to rapidly construct new dwellings. We can maybe increase our rate 30-40%? Even if the land is rapidly available, and permitting massively simplifies due to changes in the law, construction is still limited in speed by hammers on the ground. CMHC says we need 6m housing units by 2030 - so we need to boost construction by about +150%.

Eby should step down.

@@Joe-mz6dc why? he is the old leader in this whole ass country who is attempting to do anything about housing!

You are asking the wrong guy. He's here to drag you into RE scam, not to help you.

@Burboss The churn is real. 😂

@@Burboss yes exactly spot on

When prices start falling the private sector pulls back. Doesn’t mean you can’t get an oversupply but it’s tricky building into a down market for obvious reasons. Investor capital and access to bank credit

@@saretsky Makes sense, thanks for the insight! Also, I hope to see you rocking the 'stache next video, tis the season!

Canada is a huge place and we’re having trouble with not enough residential space? Ridiculous. You’re right. They could open up some Crown land as well as allowing more density on rural land.

The 15 min city is real. City paid SFU for this project. I participated in one of their sessions.

Eat zee bugs! Jk, but seriously good point. Unironically, Pierre also refuses to give a number when asked about his immigration policy. He also supports sending money to non-nato members. Certainly a couple red flags there. (Yes, I know that Justin is worse)

Is 15 min cities a bad thing?

Building a 15 minute city that entices people to choose to stay in their own neighbourhood more is not the problem. Mandating people stay in a 15 minute city or punishing people financially who choose to travel further is what needs to be resisted. The former is capitalism, the latter is authoritarianism.

@@silverfox1234 if the current government hadn’t demonstrated that it was willing to segregate, discriminate and defame its citizens, I would be into that idea.

Detached homes will only be for the rich in the future.

It depends. Increased housing density can be highly sought after, especially if it's associated with walkable streets, accessible services and communities, and well built homes. There are a number of examples of this in Europe and Australia. It also depends on if suburbs remain sought after. I see a growing disdain for suburbs as they are isolating and lend to a reliance on vehicles, thus being quite bad for climate change. Because of this, I could see detached housing as falling out of style, especially for houses built cheaply in order to maximize their size (e.g., mcmansions). For properties outside cities that own a larger portion of land, I also see challenges for them, mainly from forest fires and a lack of protection that a city might offer

Yes, the area I live in will reel the benefits of this plan, houses will just increase while they destroy 2:16 the other areas with high density.

​@@kennethyoung2077living outside of high density areas will be made unaffordable or illegal for normal ppl

Sure they will. They’re a luxury item now.

Only areas around Vancouver and Toronto are insane. Places like Calgary and Edmonton stay flat for decades.

@@Observer168 Calgary is BOOMING! big price jumps in the last year.

@@quentinstyger747 Calgary and Edmonton is still very affordable.

@@quentinstyger747 Yes, what’s affordable to one person might not be affordable to the next person. You don’t realize that wealth is lopsided. Not everyone is equal, some hold more more wealth than the average income earners. I got cousins in their 30’s doing extremely well and own multiple homes in Vancouver. Buying in Calgary or Edmonton would be extremely easy for them.

Why not? What does waiting until the small city has sprawled out enough to be "big" enough to have tall buildings accomplish? Honest question

@@Cdot4585 Most don't need them at all since the population growth is minor, very minor and would cost a fortune with a huge vacancy rate

@@ethimself5064 then the tower won't be built if it doesn't make economic sense right? But when the time comes that it does make economic sense there will be way less red tape and road blocks stopping it which is a win I believe.

@@Cdot4585 When the time comes, yes. 👍

go farm in sask, the lower mainland is the same size as hong kong we have no room for farms. Either that or watch everything collapse when young people leave in droves.

Government doesn’t want to do that because new low density communities mean building infrastructure but taking forever to recoup the cost via taxation. High density make more sense from a return on investment point of view. Crown corporations are supposed to make money.

@Observer168 Crown corps aren't supposed to make money in the sense of a regular for-profit business and are supposed to take that surplus to invest in communities, programs, and services. I agree better design and infill of current villages, towns, and cities needs to happen but also if a family or group or band of people sortosay want go and buy lands they should be able to and with the lands BC has it isn't a big thing to say the province will free up 30 to 50 percent of the lands say from fort st. John down tobthe border for Canadians who call BC home to apply and buy or for existing communities that need more space for planned expansion or management to apply and buy. Not not all would most likely be bought or sold as look at the market now for rural, much sits, most likely also due to price, but also it's not an easy life to live outside of a tier one or two city and many don't end up liking it. But it should be something people can do if they want. Look at Montana. You can buy a 10,0000 acre full ranch for the price of a nice home on 20 acres in the central Okanagan. Tell me that's not backward? To that point, a perfect example of this is land management and protection. The province doesn't have the resources, people , or money to manage the massive land base. Kelowna is demanding that the province sell them crown lands on their border as it's become a homeless encampment they have to manage as the province said they don't have the resources to manage the situation and Kelowna us paying the bill anyways for policing. This goes the same for iegal hunting, mining, logging, the province can't do the job there either. If people owned and managed more of the lands, they would be assisting in all this work. A guy I know who owns 80 acres up in the interior, who said if he didn't buy it 30+ years ago when it was affordable and made sense he would never be able to afford it, catches illegal hunting on his property and in the greater area all the time and reports it to authorities. Also, to the benefit of the crown Corp, as per your comment, this would free up resources by them as the land owner would be responsible for management and ensuring activities and operations and environmental management to the laws of the lands, and also taxes to the province for as long as we keep property taxes in place. Also, many to most wouldn't be moving into the back sticks or back 40nas they wouldn't want to be an hour or two out of a main hub down a dirt road but for the ones that want and wanted to, this should be an option amd one that shouldn't cost crazy amounts to do. The only and direct reason is land supply. So the above would be a win-win win of done right. I could go on, but I will sign off here and leave my replies and points above to chew on, lol.

This isn’t what the government wants

@Observer168 at this point and time, agreed from the province to the federal governments that they seem to want us all to live in small overpriced boxes and to thank them for it! Hopefully, a change is coming in a good way and not a kinetic way.

The cattlemen they'll have a say as they have the free run on interior crownland. Mining, forestry, I'm pretty sure it's spoken for. The states has blm land in the western states anyone can stay there for 25.00 a month. Or move every two weeks for nothing. BC is disastrous.

Add more train cars and increase frequency. Look at Tokyo and Hong Kong as an example

Look at Hong Kong and you will see the future of Vancouver

There aren’t many options for this unless you expect tax payers money used to build homes. Building “affordable” housing isn’t profitable so nobody will build it.

Many deals go behind closed doors. Some development projects are interest free loans from the government. B.C. government gave developer $211M interest-free loan in Little Mountain land sale Purchase and sale agreement sheds light on 2008 deal that saw Holborn Properties acquire lands for $334M

Did home values tank before all the rezoing?

I would imagine it will all tank. Im rezoning a lot right now and I imagine now that this is getting pushed through I won't profit, there won't be a supply issue of multi family lots. Those with increased property taxes as if they own a high rise will probably loose there shirt, pretty dumb when the govenment makes a law then back dates it 10 years, I imagine there will be some lawsuits coming up.

Won’t tank because now there is more potential in the land from the up zoning. Now high rises aren’t mostly restricted to downtown Vancouver and commercial land.

@@Observer168 More potential yes but the current owner has to sell immediately because they can't afford hiked property taxes and developers don't want to buy it because interest rates and building costs are so high. Or do you think developers will buy these lots and sit on them until it makes more economic sense to start building?

@@DaveGrant developers love to hoard land. Holborn Groups owns 15 acres in the Little Mountain area of Vancouver and mostly undeveloped. There are still a bunch of plots purchased on the old Expo 89 lands still undeveloped. It’s probably gone up 5 times in value since purchased.

why Febr.?

@@tonys7839 Fiscal year end. Corporate and personal tax implications. Equity reset in USA. The desperation should be epic. Expect some Canadian bonds to go no bid. Similar to USA market this week. Interest rate resets. Canadian gov and BOC can’t do QE without USA going first. Don’t expect that to happen. Capitulation is always February until tax filing date. January will be scramble month. Human nature on full display.

Nothing happens yet again. Please pick another date for Armageddon

We don't have 30 year fixed rate mortgages in Canada. Within 3 years everyone will be paying the same rate.

@@m.b5777 Not true. You never know if by 2026, rates will be low again (say 2.5% instead of the current 5%). In that case, those who borrowed at 1.5%, will only renew at around 3% instead of the current 7%. Also, they would have paid down 5 years of mortgage and a huge principal amount. So basically, they may escape again while current first time buyers get punished for the reckless borrowing made by the 2020-2021 buyers

Some parts West Vancouver is too expensive to develop many mansions are over $10 million dollars each.

There talking about building condo towers without parking garages. No townhouses will be allowed, will only be zoned for 4 to 20 stories. They will attract people who dont drive, as the future is less fossil fuels. The bridge traffic will be unaffected.

Also remember Park Royal area is property of the squamish nation.

Ok boomer

Everyday my plot to leave BC becomes more validated. Have fun paying outrageous taxes to live in crime ridden ghettos British Columbians!

@@matt2.019 ABSOLUTELY. What kind of lame slight is that? LOL. BOOMER? YES! We are responsible for this mess. Do I see an easy out? NO. Take care of your self and your family. Some really shitty desperate political policy will only make this worse. As for further densification of any human being does not turn out well. Have studied real estate development projects all over the world in all types of political schemes. Humans do not do well in cages. Check out the worse case of China ghost cities. Good luck

Yes cuz we have the same demographic and population as those cities. 😂

Guess which demographic creates most of the crime in the US.

Yeup,people ain’t seeing the picture

Look at Hong Kong and you will see the future of Vancouver

@Observer168 I've heard that Vancouver was designed by the same architects who designed Hong Kong. Scary.