"Young people in British Columbia are struggling to afford a home. The cost of housing has reached a point where the average person needs a six-figure down payment just to get started. This isn't sustainable for our future."
Young people starting out in their careers are facing an enormous challenge: down payments. With the average price of a home in British Columbia climbing rapidly, it's becoming almost impossible for newcomers to the market to afford that first home. A 20% down payment on a typical property now requires upwards of $150,000. For most, that’s equivalent to saving for years without spending a penny.
"People are already paying more in rent than they would for a mortgage, but they can’t buy because of the high down payment and stress test rules."
Right now, many young buyers are only getting into the market with help from family. Those who are fortunate enough to receive gifts from parents or grandparents may be able to gather a down payment, but that creates an even greater divide between those who have this support and those who don’t. Relying on generational wealth means that many are left behind, widening the gap and fueling discontent.
For years, BC has struggled with an under-supply of housing. While the government has proposed new zoning changes and density rules, these plans alone won’t solve the issue. Without a significant increase in the construction workforce and capital investment, meeting the housing needs of the province seems like a pipe dream.
British Columbia needs 67,000 new construction workers over the next decade. The problem? 55,000 of those will be needed just to replace retiring workers. This means only 12,000 new workers are added to support new growth. The shortage is real, and it’s going to hurt.
"Replacing a 60-year-old skilled worker with a 25-year-old apprentice doesn’t just replace a body—it loses experience, knowledge, and productivity."
If we maintain the current construction levels, BC will be lucky to produce 45,000 units per year. That’s far below what’s needed to keep prices steady. Without a boost in productivity, more workers, or new technology, the dream of building 80,000 units annually seems far-fetched.
If we can increase housing supply, prices will stabilize, making it easier for everyone—from first-time buyers to renters. With the right approach, prices could stay closer to inflation rates rather than skyrocketing year after year.
One suggestion has been to increase immigration specifically for construction roles. While that might provide some relief in building capacity, it’s not a quick fix. Bringing in more workers will also drive up housing demand, creating a need for even more homes.
Many young families are choosing to leave Metro Vancouver entirely, opting for more affordable places in Alberta or other regions. The congestion, high prices, and lack of community feel are driving people away. If BC continues to lose its younger workforce, the situation will only get worse.
"I know people who are already packing up and leaving because they feel like they’ll never own a home here."
It’s not just about building more homes—it’s about creating communities. Young families want to see parks, schools, and a sense of belonging. Filling the landscape with high-rise condos won’t solve the deeper issue of quality of life.
1. Increase Skilled Training Programs: Boost capacity at institutions like BCIT to fast-track young people into the construction trades.
2. Targeted Immigration: Encourage immigration specifically for construction roles, but ensure it aligns with housing supply targets.
3. Incentivize Innovation: Invest in new construction technologies that can help build faster and more efficiently.
4. Plan for Community, Not Just Units: Focus on mixed-use developments that include schools, hospitals, and green spaces.
The housing crisis in BC isn’t going to disappear overnight. To stabilize the market, keep young families here, and make life more affordable, we need a comprehensive plan. That plan needs to include more housing, a stronger construction workforce, and a long-term vision for communities that people want to live in—not just a race to build more condos.
"If we want to keep young people in BC, we need to offer them more than a home. We need to offer them a place they want to call home."
With the right approach, we can create a BC where housing is affordable, communities are thriving, and young people can look forward to staying and growing their families in this beautiful province. Let’s build a future we can all be proud of.
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