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

Just Posted

Carihi Tyees win Island Championships

Senior girls volleyball team only lost two sets in the whole tournament

Campbell River RCMP look to identify four break-in suspects

Quinsam Communications had three separate break-ins Wednesday night, four suspects wanted

Stuck barge removed from Quadra, TSB on its way to investigate

‘Had it been loaded with railcars containing toxic chemicals … we may have had a serious issue’

Fish Are Food: A look at seafood sustainability

Conference at Maritime Heritage Centre to discuss food security from a marine perspective

Area director concerned about status of barge ahead of expected windy conditions

Uncertainty of Nana Provider’s hull condition adding to unease

Teen with cancer whose viral video urged Canadians to vote has died, uncle tweets

Maddison Yetman had been looking forward to voting in her first federal election since junior high school

Rowing Canada, UVic investigate celebrated coach for harassment, abuse

Lily Copeland says she felt intimidated and trapped by Williams

Cleanup in the works after tanker truck fire leads to oil spill in B.C.’s Peace region

The province said the majority of the spilled oil likely burned away in the fire.

Fisherman missing near Lake Cowichan’s Shaw Creek

Family is asking for everyone and anyone to keep their eyes open,… Continue reading

BC VIEWS: Action needed on healthcare workplace violence

While we’ve been talking about it, the number of B.C. victims has only grown

Closing arguments begin in B.C. case launched in 2009 over private health care

Dr. Day said he illegally opened the Cambie Surgery Centre in 1996 in order to create more operating-room time

MacLean says “Coach’s Corner is no more” following Cherry’s dismissal from Hockey Night

Cherry had singled out new immigrants in for not honouring Canada’s veterans and fallen soldiers

MacKinnon powers Avs to 5-4 OT win over Canucks

Vancouver battled back late to pick up single point

Poole’s Land finale: Tofino’s legendary ‘hippie commune’ being dismantled

Series of land-use fines inspire owner Michael Poole to sell the roughly 20-acre property.

Most Read