ELECTION 2019: How would the major parties address Canada’s housing crisis?

Promises include speculation taxes, more affordable housing, and declaring housing a human right

Black Press Media has taken an in-depth look at three major issues in the 2019 federal election campaign: energy and climate change, taxation and the economy, and housing. Our final piece: housing

Young Canadians are spending 30 per cent or more of their incomes on housing. Mortgages in major cities are necessitating down payments that require decades of saving. The national vacancy rate for apartments has hit a 10-year low.

Canada’s housing crisis is even more dire for the tens of thousands of people experiencing homelessness. Some people are in tent cities. Shelters are struggling to support the demand. And supportive housing meant to get people off the streets and onto the path of opportunity are opening with wait lists.

Housing affordability has featured prominently throughout the federal election campaign so far. Here is a comparison of what the parties are offering.

READ MORE: NDP leader Singh promises action on affordable housing after winning byelection

Another Justin Trudeau government would continue with its 10-year, $40-billion National Housing Strategy announced in 2017. The Liberals would move forward with the First-Time Home Buyer Incentive, which gives people up to 10 per cent off the purchase of their first home, and would increase the qualifying value to nearly $800,000 in places where houses cost more, like Vancouver and Toronto.

To limit speculation, the Liberals are pledging to tax vacant residential properties owned by non-residents.

Conservative leader Andrew Scheer has announced he would “fix” the mortgage stress test so first-time buyers are not “unnecessarily prevented” from getting mortgages. If elected, he would also increase amortization periods on insured mortgages to 30 years for first-time homebuyers in an effort to lower monthly payments.

The party would also save $300 million by cancelling the Liberal Housing Supply Challenge, a program that invites communities to propose initiatives that break down barriers limiting new housing.

READ MORE: Trudeau targeted in English leaders’ debate

NDP leader Jagmeet Singh vows to build 500,000 affordable homes over 10 years, with a $5-billion injection, and try to ease speculation with a 15-per-cent foreign buyers’ tax.

The New Democrats would also remove the GST on new rental units, double the Home Buyer’s Tax Credit to $1,500, and, like the Conservatives, re-introduce 30-year terms to allow for smaller monthly payments on insured mortgages.

Green leader Elizabeth May would build 25,000 new and 15,000 rehabilitated units annually for the next 10 years, appoint a Minister of Housing, and introduce a law to declare housing a human right.

She would also refocus the Canada Mortgage and Housing Corporation on developing affordable and co-op housing, rather than facilitating the ownership of individual homes, and eliminate the first-time home buyer grant.

The People’s Party of Canada has not released any housing-specific policies as of Oct. 15.

Check out our previous stories in this series:

ELECTION 2019: Have Justin Trudeau’s Liberals really cut middle-class taxes?

ELECTION 2019: Climate strikes push environment to top of mind for federal leaders



karissa.gall@blackpress.ca

Like us on Facebook and follow us on Twitter

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

City of Port Alberni to review 2020 budget in response to COVID-19

Deadline for final budget adoption is May 15

Alberni school district takes a week off to plan for online education

All buildings and playgrounds in School District 70 closed to the public

Vancouver Island farmers demand on-site slaughter

COVID-19 pandemic puts supply chains at risk, says group

Social media a blessing and a curse during time of crisis: B.C. communication expert

‘In moments of crisis, fear is very real and palpable,’ says SFU’s Peter Chow-White

COVID 19: Nuu-chah-nulth Tribal Council, other First Nations mobilize resources

Some Indigenous communities are enacting emergency measures to cope during pandemic

B.C. records first at-home death from COVID-19, but 70+ hospital patients have recovered

Total of 970 novel coronavirus cases in B.C., with the majority in the Lower Mainland area

An ongoing updated list of Alberni Valley events affected by COVID-19

Has your event been cancelled or postponed? Check here

Canada to spend $2B more on procuring medical supplies for COVID-19 fight

Government has signed deals with three companies

World COVID-19 updates: Putin may be exposed; 30,000 prisoners released

Comprehensive news update from around the world as of Tuesday, March 31.

Canada expands 75% wage subsidy to COVID-19 affected businesses of all sizes: Trudeau

Program will provide up to $847 per week for each worker

‘This is no joke’: B.C. woman in Alberta hospital asks people to stay home during COVID-19

‘I want people to start listening to what the doctors are saying. This is no joke, please stay home’

Rest stops barring washroom access to truckers a ‘huge problem’ as COVID-19 spreads

Teamsters Canada says truckers are increasingly being denied warm meals

Canadians asked to wash mailboxes, keep dogs at bay, to ensure safe mail delivery

Four postal workers in Canada have tested positive for COVID-19 infection:

Hospitality workers hit ‘first and hit hardest,’ says union seeking more support

Union represents workers in hotels, casinos, airports, arenas, universities, schools and remote resource camps

Most Read