LETTER: Sale of housing assets short-sighted

Affordable homes is needed now and for future generations; tent camps are only one result stemming from the lack of housing.

Abbotsford shares the challenge of many B.C. municipalities when it comes to the lack of affordable housing, and tent camps are only one result.

Many individuals — including the coveted millennials — are having to contend with limited options when it comes to housing, and neither of the senior governments appear to be on the ball.  It’s bad enough that the federal government is cutting support of co-op housing — what our province is doing is equally as damaging.

Carlito Pablo’s article “Province sells buildings” (Georgia Straight, Aug. 20-27) provides some disturbing details. Minister Rich Coleman has directed B.C. Housing to sell 350 government-owned properties.

As a fiscal conservative, I find the sale of housing assets to be short-sighted, even if these sales may mimic economic activity and even allow the provincial books to look a tad less bleak. But liquidating assets is not the worst of it.

Mr. Pablo lists the assessed value of Stamps Place at $50.5 million, and that of Nicholson Tower at $34 million. Mortgages will be required of purchasers, and rents will, understandably, reflect these mortgage payments.

Sure, B.C. Housing can offer further subsidies to — at least partially — offset the increases. But those subsidies will essentially flow through to the mortgage lenders.

I’ve got nothing against banks. But I’d much prefer my tax dollars go to housing than to the “Big Five”. Too bad our provincial government doesn’t appear to agree.

Regina Dalton

Just Posted

Stacked townhouse project gets approval despite traffic concerns

Neighbours say project will increase traffic and problems turning out of seniors’ complex

Fraser Valley pride celebration includes dance and festival

Events held in Abbotsford on July 19 and 20

Free summer concert series celebrates Fraser Valley indie music

Two more performances left in Jam in Jubilee in Abbotsford

Getting a new ‘Gig’ easier with new innovative program in Chilliwack

Program will take 12 young adults and help them prepare for their career path

VIDEO: B.C. MLA Michelle Stilwell takes first steps in nearly 30 years

‘It actually felt like walking. It’s been 27 years… but it felt realistic to me’

Report of dead body in B.C. park actually headless sex doll

This discovery, made at Manning Park on July 10, led police to uncovering two other sex mannequins

Grand Forks fire chief found to have bullied, harassed volunteer firefighter: report

WorkSafeBC, third-party human resources investigation looking into allegations complete

Dog recovering after being drenched in hot coffee, B.C. man charged

Man was taken into custody, charged, and released pending a court date

Taekwondo instructor, 21, identified as B.C. bat rabies victim

Nick Major, 21, an instructor at Cascadia Martial Arts in Parksville

Science expedition to Canada’s largest underwater volcano departs Vancouver Island

Crews prepared for a two-week research mission to the Explorer Seamount

B.C. shipyard to get one-third of $1.5 billion frigate-repair contract

The federal government has promised to invest $7.5 billion to maintain the 12 frigates

Worried about bats? Here’s what to do if you come across one in B.C.

Bat expert with the BC Community Bat Program urges caution around the small creatures

B.C. on right road with tougher ride-hailing driver rules, says expert

The provincial government is holding firm that ride-hailing drivers have a Class 4 licence

Most Read