For immediate release
November 4, 2021
VICTORIA, B.C. – Today, the Minister of Finance announced that the government intends to introduce legislation requiring cooling off periods in home sales. Sonia Furstenau, Leader of the B.C. Green Party and MLA for Cowichan Valley has issued the following statement:
“Today’s announcement is a positive step towards better protections for consumers in B.C. I’m particularly encouraged that the BC Financial Services authority will be examining practices such as blind bidding, price baiting, and rules around home inspections. Buying a home is a big step and British Columbians deserve every protection possible, especially in such a volatile housing market.
“This is a good thing – but it’s also treating a symptom of the housing crisis, rather than one of the root contributing factors. The promised legislation might better protect homebuyers, but for people who cannot afford to buy homes at all, the impact on affordability remains to be seen.
“I look forward to seeing the results of the BC Financial Services Authority consultation and the legislation it helps to inform. But my colleague and I remain focused on the urgency of the housing crisis and its impacts on affordability and livability.”
B.C. Green Caucus
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