Support David Eby’s plan to turn empty condos into homes people can afford

Right now there are about 5,000 finished condos sitting empty across Metro Vancouver. Not half-built. Finished. Over 1,300 of them have been done for more than two years, and some have been sitting since 2019. Two thirds are within 800 metres of a SkyTrain station.

Developers are holding them off the market, waiting for prices to go up. It costs them almost nothing to wait, while British Columbians pay sky-high prices to rent or buy.

David Eby is changing that. He’ll bring in a new Unsold Condo Tax on finished condos left unsold for more than a year, rising every year they sit. If they rent them out, they’re exempt. He’ll also raise the speculation and vacancy tax on speculators, foreign and domestic, and reinvest every dollar into building more affordable homes.

It works. The speculation tax has already turned 20,000 empty units into homes for people. Starting rents in BC are down more than 10% since 2023, and have fallen 26 months straight.

The BC Conservatives have always opposed the speculation tax and repeatedly promised to scrap it. Rip up the plan, and rents go back up.

That’s the choice on October 24.

Do you support David Eby’s plan to turn empty condos into homes people can afford? Add your name: