LETTER: Housing crisis decades in the making

In response to “Densification addresses concerns of modern world.” Sidney shares land with North Saanich, so factor this in when saying densification in Sidney is confined to downtown. Sidney had to restrict reno-evictions so the not-so-wealthy baby-boomers could remain in their apartment/condo rentals, so it’s misleading saying the older generation are “rich.”

Not all retirees can afford $1,000 per square-foot of living space in new builds, strata fees in the hundreds per month and Sidney’s taxes outpacing every other municipality on the Peninsula. Affordability for service workers is a Canadian problem and will take all three levels of government to tackle this ignored problem.

“Climate change is impacting how we live caused by government failure not being pro-active. In recent months numerous published studies explain what is driving our housing crisis and post-pandemic worker shortage. Not a new problem but decades in the making, now reaching critical. Old methodologies may solve one but will create a new one.

BMO released an extensive report based on 20 years of data that Canada has 475 homes for every 1,000 citizens, findings show one in every six homes is owned as an investment property, contributing to a growing housing bubble. Wages have not kept up with the cost of living for three decades, ever since the 2008 Wall Street bailout. The separation of the global economy and real economy is vastly apart where a correction would cause a collapse of the world economy. While the U.S. warded off a recession by bailing out Wall street to the tune of $50 trillion, it set in motion an unpredictable global economy.

North America has a larger landmass compared to Europe. Europe had to use the land efficiently for housing and transportation for centuries. Cars are not only killing us; the world is overpopulated and under climate assault, making migration about survival. Developers can build to the heavens to leave legislators to provide potable water, treatment of sewer, and land for waste (on an island). Is the problem solvable from public opinion or local government? This will take every level of government, with shared political will to solve.

Jo-Anne Berezanski

North Saanich