Letter: Langley’s lost generation of homeowners

Editor: We saw in an article published in the Times on Jan. 3, explaining that condo values across Langley have increased dramatically. It wasn’t only condos, either — almost every type of home has had its assessed value increase.

This means a few things: One, it means overall the economy is doing well;

Two, it means those people who currently own a condo, a detached home, or a townhouse will more than likely see their property taxes go up;

Three, it means that it is continuing to become more difficult for young people to buy a home in Langley.

Granted, there is a good side — increased property taxes mean more services (we hope) and existing homeowner’s net worth is increasing at never before seen rates (assuming they are not re-leveraging their assets). This is good news, and should be celebrated.

However, for those of us who are either currently or will shortly be searching for a place to buy and call home, things have become even more difficult.

Vacancy rates of all kinds of housing are exceedingly low in Metro Vancouver, and without adequate supply this won’t be changing anytime soon.

In order for Langley (Township and City) to ensure that it has the population to justify building the transit we desperately need, to remain the type of town where people who want the best for their family can afford to live, and for it to remain a vibrant, welcoming place to call home, we need to increase the supply of affordable homes.

In a recent Financial Post article, Diane Francis suggested banning foreign home ownership like they have recently done in New Zealand.

Tom Davidoff, a Real Estate professor at UBC has suggested raising property taxes while reducing income and sales taxes as a way to combat the rising tide of home prices. The Fraser Institute released a recent study showing that Metro Vancouver could increase its density levels to help with the affordability crisis.

Whatever the answer is, it needs to be done responsibly and it needs to be done soon – or else a generation of people who have grown up in Langley will have to look elsewhere. That would be a sad day.

Michael Pratt,

Murrayville

Just Posted

VIDEO: Snow Day in the Langleys

Digging out after heavy snowfall

‘Acoustic Ninja’ comes to Fort Langley

Trace Bundy bringing astonishing guitar skills to Chief Sepass Theatre on March 3

VIDEO: Snowfall’s timing perfect for young sledders

Langley kids made the most of a district-wide pro-d day on Friday

Langley work crews prep for significant dump of snow

Work underway to keep roads as clear and safe as possible

Rivermen’s Bernard a nominee for top d-man

Langley’s Colin Bernard has been a steadying presence on Rivermen blue-line

VIDEO: What you need to know today at the B.C. Games

B.C. Winter Games athletes work for gold in the last full day of competition

B.C. Games: Athletes talk Team Canada at PyeongChang 2018

From Andi Naudie to Evan McEachran there’s an Olympian for every athlete to look up to

Snowboarders sliding into fresh territory at B.C. Games

Athletes hit the slopes for first appearance as an event at the B.C. Winter Games in Kamloops

Cariboo woman raises funds for Seizure Investigation Unit beds at VGH

VGH Foundation gets VCH approval to begin fundraising for SIU beds; local efforts are paying off

Looking back at the 1979 B.C. Games: Good memories, even better jackets

39 years later, Kamloops is hosting the Winter Games again, with some volunteers returning

OLYMPICS 101: Oldest and youngest Canadians to reach the podium

This year, Canada sent its most athletes in Winter Games history, here’s a look at record breakers

BCHL Today: Cowichan Caps play spoiler and Nanaimo wins 10th straight game

BCHL Today is a (near) daily look at what’s going on around the league and the junior A world.

Federal budget to unveil incentive for 5-week second parent leave: official

Goal behind the measure is to give parents more incentive to share child-rearing responsibilities

Notley says Alberta watching B.C. court bid closely, will get no free ride on it

Alberta Premier Rachel Notley ended the three-week ban on B.C. wine, calming the trade war

Most Read