The British Columbia Real Estate Association says a cooling-off period the province is looking to introduce this spring will not alleviate the market’s heated conditions.
The association warns the policy is “ineffectual at best” and will also do nothing to address a lack of supply, which it considers to be the root of B.C.’s housing affordability problems. It also wants the province to establish a process that balances offer transparency for buyers with privacy concerns, so people can make more informed decisions, when they are caught in multiple offer scenarios.
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