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The announcement next week is expected to address at least part of the supply problem that the premier has said is an underlying cause of recent skyrocketing housing prices. Clark has said local residents are squeezed out of the market by an influx of wealthy foreign buyers and a lack of condos or homes available to purchase or rent.

De Jong offered few hints on government’s plan and wouldn’t say if it also contains provisions to help renters who are squeezed out the market by rent hikes and by landlords who’d prefer to put their units into short-term rental services like Airbnb.

The premier has made increasing rental supply, particularly in Vancouver, one of the goals of any housing plan.

Housing Minister Rich Coleman has said he’s exploring partnerships with municipalities, Ottawa and the private sector to leverage the limited cash.

In addition, B.C. expects to earn $165 million this year on the new 15-per-cent foreign buyer tax it imposed on Aug. 2. That rises to $255 million next year (on the assumption foreign citizens purchase five per cent of 40,000 home sales at an average price of $850,000). De Jong said he remains “nervous” about the housing sector and the tax estimates, and so has increased the government’s contingency fund to brace for any shortfall.

Next week, the government will release new figures on how home sales were affected by the foreign buyer tax in August. Realtors and industry analysts have said MLS listings have dropped since the tax, and figures prepared for Postmedia by Juwai.com, a popular website in China, indicate buying inquiries from Mainland China for Vancouver property have plunged 81 per cent.