The owner-occupied, stand-alone single-family-home model that took off after the Second World War and defined our way of life for three generations is steadily being dismantled
They will still be around for a few decades. There will be a steadily shrinking high-income market for them for years to come. But the owner-occupied, stand-alone single-family-home model that took off after the Second World War and defined our way of life for three generations is steadily being dismantled.
Recent dramatic policy changes in the cities worst hit by the housing crisis fractured the concept further.It came with the release of a “refreshed” provincial housing policy that is designed to attack the housing crisis by freeing up far more room for far more smaller living spaces in the burbs. Legislation is coming this fall that will apply to many places in B.C. and will allow up to four units on a traditional-sized single-family detached lot.
There is also a new flipping tax coming that will penalize speculators who buy properties and resell them soon after to capitalize on the price spiral. It will be “based on how soon they happen after the initial purchase.” A new online portal is promised to speed the process up. Digitized construction codes and design and permit processes are coming.