The government has said that measures to ease housing affordability would not directly affect house prices. “We can’t start with the presumption that housing price increases are a good thing. Housing prices that have outpaced incomes is remarkably bad news. It’s turned Vancouver into a generational ghost town,” the professor said. The CTV study found that 96 per cent of BC MLA’s own property compared to 70 per cent of Canadians.
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Some members of British Columbia’s provincial government are reaping the rewards of the growing real estate market while opposed to measures that would cut prices according to a report by CTV News. A review of public records found that ministers have added $2.3 million to their personal wealth so far in 2016; one who owns four properties has seen a $765,000 increase. UBC professor Paul Kershaw told the broadcaster that officials should balance their own wealth gains with the plight of those that cannot afford to live in Vancouver.