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Canadian Prime Minister Trudeau announced on the 15th that federal political parties will work hard on housing policy after an early general election will be held on September 20.
During the epidemic, house prices in the Canadian housing market, especially in Vancouver and Toronto, have skyrocketed, far ahead of the United States, the United Kingdom and other developed countries.
Soaring house prices and insufficient housing supply have put great pressure on the younger generation in Canada, forcing more potential homeowners out. The growing housing problem has long been the number one problem facing Canada.
In the upcoming general election, whether the political parties can put forward effective measures to curb the overheating of the property market will undoubtedly become a criterion for voters.
Trudeau promised that if he is re-elected, the Liberal Party will remain committed to the policy of affordable housing.
At present, the Liberal Party has not yet announced its election platform, but it has released the 2021 budget, and we can get some information from some clues.
The National Housing Strategic Budget (National Housing Strategy) announced in 2021 has doubled compared with 2017.
The plan aims to build a new comfortable housing more quickly.
In addition, the Liberal Party also proposes that taxes will be levied on underutilized (underused) housing.
O’Tour pointed out that the average house price in Canada is already higher than that in many western countries, and if he can win the election, he will try to solve the comfortable housing problem.
The Conservative Party said in its election platform that it planned to build 1 million houses within three years, convert at least 15 per cent of federal property into housing, and develop an aboriginal housing strategy.
The Tories also want to encourage the provision of 7-to 10-year mortgages and adjust stress tests and insurance requirements to make it easier for people to qualify for loans.
Jagmeet Singh, the leader of the New Democratic Party, announced today that he would drive huge amounts of money from speculators out of Canada’s housing market and help young Canadians and families buy homes at reasonable prices they can afford.
At the heart of the party’s housing policy is to build 500000 comfortable housing units over the next decade and to crack down on housing speculators by imposing a 20 per cent overseas buyer tax (Foreign Buyer’s tax) on individuals who are not Canadian citizens or permanent residents.
In addition, to help potential buyers enter the housing market, the party proposed the creation of a 30-year mortgage insured by the Canadian Mortgage and Housing Corporation.
“We need to drive speculators with huge amounts of money out of the housing market to make room for young people and working families in Canada,” he said.
Ordinary Canadians have no chance of winning in the competition with the super-rich. The speculators who brought a lot of money to buy houses in Canada have no intention of building our community at all. Their only goal is to make money. “