The New Democrat government's ambitious homebuilding agenda could result in up to 293,000 new housing units over the next decade, according to a government-commissioned report highlighted Thursday by Premier David Eby.
"to run some numbers, BC currently has 5,000,879 out of Canada’s 36,991,981 or 13.5% of the population. If that proportion continues over the next decade, BC will see an approximate increase of 600,750 out of 4,450,000 people based off of this plan (assuming the grown maintains its linear growth). If you divide 600,750 people by 293,000 new units you get 2.05 people per unit, therefore if the people immigrating are bringing their family and living more than 2 people per unit you will see a net surplus of housing, but single people will see a net loss or break even of housing.
All of this is to say, it appears they have planned to create enough housing for the people projected to come here, but not a substantial amount to increase the overall supply. It would appear it will maintain the status quo."
If they build all the housing they plan to, they will roughly keep pace with immigration. Therefore nothing will change for the better, or our current housing crisis will remain constant.
That is assuming they follow through with the promise to build that much.
Copied from my comment above:
"to run some numbers, BC currently has 5,000,879 out of Canada’s 36,991,981 or 13.5% of the population. If that proportion continues over the next decade, BC will see an approximate increase of 600,750 out of 4,450,000 people based off of this plan (assuming the grown maintains its linear growth). If you divide 600,750 people by 293,000 new units you get 2.05 people per unit, therefore if the people immigrating are bringing their family and living more than 2 people per unit you will see a net surplus of housing, but single people will see a net loss or break even of housing.
All of this is to say, it appears they have planned to create enough housing for the people projected to come here, but not a substantial amount to increase the overall supply. It would appear it will maintain the status quo."
If they build all the housing they plan to, they will roughly keep pace with immigration. Therefore nothing will change for the better, or our current housing crisis will remain constant.
That is assuming they follow through with the promise to build that much.
A reasonable guesstimate. I don’t see how that answers my question, though.