Voting in a progressive city council, that supports zoning changes and is pro-development, will bring housing attainability back into reach. While global issues, and combating inflation with hiking interest rates certainly plays a role in housing attainability–so does housing supply. Right now, Kamloops has only 3% usable land. However, CHBA CI believes, working with a City Council who is in favour of creative zoning changes and who supports pro-development, would open up more lots and boost the supply in housing. Who Are You Voting For?
Pro-development allows the residential construction industry to build homes in a timely manner.
Demand is increasing with a growing population. However, construction costs are also increasing. Regulatory and building costs can stop projects from proceeding, which happens more frequently that you man think. We need more housing supply to meet the demand, not less.
Residential construction is one the most regulated sectors of the economy. While each approval or change may seem like a small impact, together they can quickly impact housing affordability calculations. These changes are not limited to just market housing, and can impact projected targets and budgets for government housing initiatives. Who Are You Voting For?