British Columbia NDP Majority Government 2024-(no later than) 2029

[daftandbarmy]

That should help curb the amount of risk developers will take to bring new housing to market. They will err on the side of "too little stock" rather than "too much"; the resulting drop in supply should encourage prices to rise.

Plot twist: There might be other issues driving undersupply in future...

B.C. developers proceed cautiously as rental market softens​

Slowing home construction could create future housing supply shortages in the province, experts warn

B.C. developers are moving ahead with planned rental projects cautiously as softer demand and a growing supply of completed units put pressure on rents.

Asking rents in B.C. have fallen about 10 per cent over the past three years, the largest decline among Canadian provinces, according to Rentals.ca’s August report.

The decline comes as rental demand has weakened amid federal policies restricting international students and temporary workers, while a pipeline of new rental units continues to come onto the market, according to the Canada Mortgage and Housing Corp. (CMHC).

But developers and economists warn that today's softer market could sow the seeds of a future supply shortage as construction activity slows.

“It is a very challenging real estate market, probably the hardest that many people have seen in their career that work in real estate,” said Josh Anderson, vice-president of development at Vancouver-based wealth management firm Nicola Wealth.

https://www.biv.com/news/real-estate/bc-developers-proceed-cautiously-as-rental-market-softens-12805709

 

[Brad Sallows]

Plot twist: There might be other issues driving undersupply in future...

Yes, there are always many factors. About the only thing dependable is that whatever government does will look cunning like the grouse alongside the thousands of people who actually have skin in the game.