LETTER: Limit speculation on house sales

From reader Tom Prior

Re: Nelson mayor disputes B.C. housing minister’s views on housing supply

B.C.’s housing minister David Eby is challenged by Mayor John Dooley about Eby’s recent public musings to wrestle control of “approving housing developments from municipal control.”

Housing affordability across Canada is no longer affordable for many hard-working Canadians. There is enough supply but because run away speculation has driven prices too high most middle income folks can only dream of owning a home.

There is a simple solution: limit speculation to 30 per cent. The amount you paid plus cost of improvements is all you can gain from selling the property.

We have done this on 200 acres for 40- plus years on the Kootenay Land Co-op in Argenta. It works. In a couple months one of the 2.5 acres with a decent off grid home on the co-op will be sold to a local single woman for about $60,000.

We have a long list of folks waiting for someone to sell on our land co-op.

Imagine all the people with a decent home, or do unto others as you have them do unto you.

Unfortunately neither of these men have the imagination to get beyond our current economic framework that is driving us further and further down a perilous homeless road.

Tom Prior