Leaky condos & politics

The NDP has done what political parties do and issued a press release accusing the liberal and conservative parties of inaction in the leaky condo crisis. The BC leaky condo crisis is the largest and costliest construction crisis in Canadian history. Beyond the health hazards of living with mold in your walls, these repair costs have added to the 'affordability crisis' here.

The average per unit repair cost for co-op owners rose from $38,000 to $62,000 between 2000 and 2006, while per unit repair costs for condos went from $20,000 to $54,000 in the last six years.

The key recommendations coming out of the Barrett Commission included: forgiving the GST on repair and restoration costs; income tax deduction of repair costs; fair and flexible Canada Mortgage and Housing Corporation grants to leaky housing cooperatives; and penalty free access to RRSPs to fund repairs. The Commission also suggested that CMHC has failed to be an advocate for homebuyers in the coastal climate of British Columbia.

“The Barrett Commission, a BC provincial inquiry, could only go so far in determining what role CMHC played in the delivery of substandard constructed homes. That’s why the Federal government must hold an inquiry to get to the bottom of this matter and to prevent other Canadians from falling victim to defective homes,” said Maretic.