Mary Lau’s Post

Under the Radar - not affected by high interest rates, high cost of buying property, government regulator burden for rezoning and developing land - homeowners that convert their houses to multiplex for profit. They already own the land and can do the whole conversion and be mortgage free plus a profit. Bill 44 created a new asset class that is not affected by the same challenges faced by large scale multi family developers.

Smaller developers and home owners will be able to buck this trend. They can move faster and have less overhead than the larger companies. I see us turning a corner in construction very soon.

BC still lags other provinces for housing starts and this needs to change. We are above historical averages, but changes need to be made at the government level and the city/municipal level as well. Edmonton has done a great job in removing red tape. That is just one example.