B.C.'s housing crisis is really a supply crisis, Liberal critic says

According to B.C. Liberal housing critic Sam Sullivan, B.C.'s housing affordability crisis is, at its heart, a supply crisis.

Sullivan, the MLA for Vancouver-False Creek, was reacting to Premier John Horgan's Friday speech to close out the Union of B.C. Municipalities' annual general meeting.

In the speech, Horgan referred to the housing crisis but did not mention the 4.5 per cent allowable rent increase his government just approved for 2019 — the highest increase since 2004 — nor did he say when his government's promised $400 renter's rebate will become a reality.

"It's very serious, especially for the people are struggling already," Sullivan told On The Coast host Gloria Macarenko of the rent increase.

Sullivan claimed that unlike Vancouver, rents in U.S. cities like Seattle are dropping because of an uptick in supply.

"That is certainly not what we're seeing here," he added.

Sullivan was also critical of the government for meddling in the housing market in other ways. He said the tax on high-value homes is simply driving up the costs of what was formerly more affordable, entry-level housing.

And, he said, new taxes and other rules are causing developers to abandon rental projects.

"By trying to help the housing market, they're actually doing the opposite," he said. "This is really bad. We need more supply. A lot more supply."

Sullivan, who is also a former Vancouver mayor, said he expects voters will be looking for solutions to housing problems at the ballot box on Oct. 20.

Listen to the full interview:

With files from CBC Radio One's On The Coast