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In recent years, Canadian house prices have skyrocketed and housing supply is in short supply, which has put a lot of pressure on the younger generation in Canada.
The growing housing problem has become the number one problem facing Canada.
Because the latest opinion poll shows that housing prices are the most concerned issue for voters.
Both the Liberal Party and the Conservative Party have to operate on house prices for the sake of the general election.
Let’s take a look at the new housing plan of Canadian Prime Minister Trudeau’s Liberal Party.
Use 1 billion Canadian dollars to create a “passageway” for renters to own homes.
After the government provides the public with a lease for a period of time, tenants can choose to buy the house and lock in the price before the lease ends.
Introduce a housing tax-free savings account that allows all Canadians under the age of 40 to save C $40,000 when they buy their first home and withdraw it tax-free when they buy a house.
At the same time, double the tax credit for first-time home buyers from C $5,000 to C $10,000.
A commitment is made to rebuild or rehabilitate 1.4 million new homes over the next four years.
Create a C $4 billion pool to support the urban middle class, crack down on land speculators and provide millions of affordable housing.
Build cheaper houses with 2.7 billion Canadian dollars, free of decoration fees for families who live together for generations.
The formulation of a new “property buyers’ Bill of Rights” forbids blind bidding, fair bidding among all buyers, and the history of house prices must be completely transparent.
5. Foreigners are prohibited from buying houses and overseas buyers’ taxes are levied.
Foreigners are prohibited from buying houses for the next two years.
From January 2022, a tax will be imposed on vacant or underutilized property owned by foreigners, including vacant land in big cities.