2021 federal election platform tracker: Where each party stands so far in terms of housing issues.

Dated: August 25 2021

Views: 16

Canadian Party Leaders

2021 federal election platform tracker: Where each party stands so far in terms of housing issues.

 

Conservatives

  • Aim to have one million homes built across the country in the next three years
  • Ban foreign investors not living in or moving to Canada from buying homes for a two-year period, encourage foreign investment in affordable purpose-built rental housing
  • Encourage new market in seven-to-10-year mortgages to “provide stability” for first-time homebuyers and lenders
  • Will not tax Canadians’ capital gains on the sale of their principal residence
  • Adjust mortgage stress test to “stop discriminating” against small business owners, contractors and other non-permanent employees, including casual workers

Liberals

  • Commit $1 billion in loans and grants towards rent-to-own projects
    Introduce tax-free First Home Savings Account, which allows Canadians under 40 to save up to $40,000 toward their first home with no requirement to repay it
  • Give Canadians option of deferred mortgage loan as alternative to shared equity model and reduce monthly mortgage costs
    Double the First-Home Buyers Tax Credit from $5,000 to $10,000
    Reduce monthly mortgage costs by reducing price charged by Canadian Mortgage and Housing Corporation on mortgage insurance by 25 per cent. Liberal Party says this will save “a typical person” $6,100.
  • “Build, preserve or repair” 1.4 million homes in the next four years
  • Ban blind bidding
  • Ban new foreign ownership for the next two years
  • Expand the upcoming tax on vacant housing
  • Halt so-called renovictions by “deterring” unfair rent increases

NDP

  • Introduce 30-year terms on mortgages insured by Canada Mortgage and Housing Corporation
  • Pledging 500,000 “quality, affordable” housing units within 10 years
  • 20 per cent tax on homes purchased by foreign buyers
  • Waive federal portion of GST/HST on construction of new affordable rental units
  • Double homebuyer’s tax credit to $1,500

Bloc Québécois

  • Invest one per cent of the Federal government’s annual revenue into social housing
  • Convert all unused federal properties in affordable social housing to fight the housing crisis
  • Introduce a new tax on real estate speculation

Greens

  • Appoint a housing advocate to ensure action within infrastructure of the federal government
  • Strengthen regulations in order to limit foreign investment and put an end to “predatory practices” in residential real estate
  • Refocus the core mandate of the Canada Mortgage and Housing Corporation towards supporting development of affordable non-profit and co-operative housing

We hope that someone will also address the inequality of the landlord and tenant Act ... unfortunately this has never been and is not balanced. 

Want to read the whole article? Take a look at what each party has promised so far on the major issues affecting the economy, business, and your money. BNN Bloomberg will update this platform tracker as more details are announced.

Read the whole article here:

https://www.bnnbloomberg.ca/2021-federal-election-platform-tracker-where-each-party-stands-so-far-1.1639592

Blog author image

Sophia and Ava von Niebelschuetz

By choosing to work with us you get two passionate Realtors with a combined Real Estate experience of over 40 years. We love what we do; we are in the business for people and take a personal interest ....

Latest Blog Posts

How to keep your plants happy and healthy this winter

How to keep your plants happy and healthy this winterHOME IMPROVEMENTNOVEMBER 17, 20213 MIN. READWinters in Canada can be cold and dark, and just like us, our delicate plants – indoor and

Read More

Top 10 tips for selling your home in the winter

Top 10 tips for selling your home in the winterBUYING & SELLINGNOVEMBER 1, 20213 MIN. READThe common notion that spring is a better time to sell than winter is being challenged by today’s

Read More

How to get your home Halloween ready

How to get your home Halloween readyHOME IMPROVEMENTOCTOBER 27, 20214 MIN. READNo matter your age, Halloween can be one of the most playful, spirited (and spooky!) times of the year. It only occurs

Read More

Prices in Canada’s secondary cities continue to rise as buyers prioritize space and affordability in age of remote work

Prices in Canada’s secondary cities continue to rise as buyers prioritize space and affordability in age of remote workMARKET TRENDSOCTOBER 25, 20213 MIN. READSince the late spring of 2020,

Read More