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

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

The Quartz Creek watershed is located in the area behind the small community of Ymir south of Nelson. Photo: Tyler Harper
Timber companies swap management of controversial Ymir watershed

Fruitvale’s ATCO Wood Products is now overseeing Quartz Creek

Toronto Public Health nurse Lalaine Agarin makes preparations at Toronto’s mass vaccination clinic, Jan. 17, 2021. THE CANADIAN PRESS/Frank Gunn
3 deaths, 234 new cases of COVID-19 in Interior Health over the weekend

One death connected to outbreak at Kamloops’ Royal Inland Hospital, where 20 patients and 28 staff have tested positive

The trial of Harry Richardson began Monday at the Nelson courthouse. File photo
Trial of man accused of shooting RCMP officer near Argenta in 2019 begins

Harry Richardson is facing five charges in a Nelson courtroom

Gerald Cordeiro of Kalesnikoff Lumber Ltd. says the company is looking for a non-profit organization to take over and run its proposed agroforestry project. Photo: Bill Metcalfe
Logging company proposes agroforestry project for Nelson area

Kalesnikoff Lumber is floating the idea of growing trees in conjunction with food crops

Crews with Discovery Channel film as an Aggressive Towing driver moves a Grumman S2F Tracker aircraft around a 90-degree turn from its compound and onto the road on Saturday, Jan. 23, 2021. It was the “most difficult” part of the move for the airplane, one organizer said. (Jenna Hauck/ Chilliwack Progress)
VIDEO: Vintage military plane gets towed from Chilliwack to Greater Victoria

Grumman CP-121 Tracker’s eventual home the British Columbia Aviation Museum on Vancouver Island

ICBC has seen savings on crash and injury claims in the COVID-19 pandemic, with traffic on B.C. roads reduced. (Penticton Western News)
ICBC opens online calculator for rate savings starting in May

Bypassing courts expected to save 20% on average

Cannabis bought in British Columbia (Ashley Wadhwani/Black Press Media)
Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

(AP Photo/Elaine Thompson, File)
16% boom predicted for B.C. real estate sales in 2021: experts

Along with sales, the average price of homes is also predicted to rise, by nearly 8 percent

FILE – Canadian Prime Minister Justin Trudeau delivers his opening remarks at a news conference outside Rideau cottage in Ottawa, Tuesday, January 19, 2021. THE CANADIAN PRESS/Adrian Wyld
Vaccine CEO ‘very, very clear’ that Canada’s contracts will be honoured: Trudeau

Trudeau says he spoke to Moderna CEO on the morning of Jan. 26

Brad Windsor has been an advocate for years to get sidewalks installed along Milburn Drive in Colwood, but to no avail. He wants city council to commit to making Milburn a priority lane for sidewalk construction in the future. (Aaron Guillen/News Staff)
VIDEO: Dramatic crash caught on B.C. home security camera

Angry residents say video highlights need for sidewalks in B.C. residential neighbourhood

An independent review is underway at the Royal BC Museum after employees called out systemic, individual racism at the institution. (Twitter/RBCM)
Royal BC Museum faces allegations of systemic racism, toxic work environment

Formal investigation, survey and training launched at museum

In this May 23, 2012, file photo, an approximately 2-year-old female cougar runs away from a Washington Department of Fish and Wildlife trap after being released northeast of Arlington, Wash. A cougar has attacked and severely mauled a man in British Columbia. THE CANADIAN PRESS/AP-Mark Mulligan/The Daily Herald via AP
Cougar euthanized in B.C. after severely mauling a man north of Vancouver

Whistler RCMP officers were first on the scene and shot and killed a cougar prowling nearby

Kamloops This Week.
48 COVID-19 cases and one death associated with outbreak at Kamloops hospital

One of the 20 patients infected has died, meanwhile 28 staff with COVID-19 are isolating at home

Most Read