An organization tracking poverty has given B.C. failing grades in several areas, but also a B when it comes to putting forward positive policies.
One central cause of poverty in B.C. is the cost of housing. Not only does it have most expensive housing market in Canada, but the average cost of housing is also rising faster in B.C. than across the country . Rents also increased at a faster rate than elsewhere in Canada . According to the report, almost 47 of respondents paid more than 30 per cent of their income on housing, which earned B.C. a failing grade, the same as last year.
“ has developed an ambitious and aggressive housing plan that is widely regarded as among the best in Canada,” the report reads. “Consistent with a key recommendation we made last year, the provincial government has put forward a number of incentives to assist with the development of more purpose-built market rental housing, including access to low cost-loans using government-backed borrowing.”
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