BC's provincial election is over. And the winner is..................................
Yesterday's provincial vote was a nail-biter. Initial counts show the incumbent Liberals garnering 43 seats while the NDP took 41 and the Green Party broke out with 3. In BC 44 seats are required for a majority.
So what does it mean? That's not yet clear. What we have for sure is a recount in several ridings, including Courtenay/Comox, where the difference between the winner and loser came down to just 9 votes - in favour of the NDP. So as of today, for the first time in 65 years, BC is looking at a minority government. In addition, the Green Party is playing the role of King(or Queen)-maker. There will be no real certainty until after the recounts which are slated for later this month. May 22-24 I believe.
If any of the recounts favour the liberals, they could achieve a majority at which point we'll likely see a return to business as usual. If any of the recounts favour the NDP, or if the current counts stand, then homeowners may wish to fasten their seat belts as turbulence can be expected given the pre-election promises of both the NDP and Green Party. What the latter scenario would mean, if anything, for existing real estate values is really anyone's guess and most guesses aren't good.
I'll keep you posted.