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

Jaimie Davis won received a Northwest Community College President’s Art Award in 2018. This year, she won the Best Solopreneur Award from Small Business BC for her online shop Jada Creations. (Contributed photo/Northwest Community College)
Terrace artist wins provincial small business award

Jaimie Davis of Jada Creations won BC Small Business’ Best Solopreneur Award

Chera Bergen (left) with her sisters Hali and Dylan Ouellet (not in the picture) raised money through a bottle drive in Terrace to buy essential supplies for a homeless shelter. (Binny Paul/ Terrace Standard)
Terrace sisters’ recycle drive raises money for homeless shelter

With the $1175 raised, Chera, Hali and Dylan bought essential supplies for Ksan Society

A memorial march takes place along Highway 16 also known as Canada’s ‘Highway of Tears’ on national day of awareness of Murdered & Missing Indigenous Women and Girls (MMIWG). Over five dozen people from nearby communities joined the march which began outside Terrace City Hall and ended at the memorial totem pole erected along Hwy 16, near Kitsumkalum. (Binny Paul/Terrace Standard)
‘City of Terrace can and should make spaces safer’: MMIWG activists

Activists called on governments to amplify safety net for women on national day of awareness of MMIWG

RCMP are reminding the public to be aware of their surroundings after a stabbing sent a man to hospital on May 4, 2021. (Black Press Media File Photo)
Terrace stabbing sends man to hospital

RCMP remind the public to be aware of surroundings

The construction site for the new Mills Memorial Hospital has been cleared. (Binny Paul/The Terrace Standard)
Bird nests key to decision to log hospital site in Terrace

Nests would have posed a risk of increasing costs

Protesters attempt to stop clear-cutting of old-growth trees in Fairy Creek near Port Renfrew. (Will O’Connell photo)
VIDEO: Workers, activists clash at site of Vancouver Island logging operation

Forest license holders asking for independent investigation into incident

Provincial health officer Dr. Bonnie Henry and Health Minister Adrian Dix update B.C.’s COVID-19 situation at the B.C. legislature, April 29, 2021. (B.C. government)
B.C.’s COVID-19 case count creeps up, seven more deaths

445 people in hospital, 157 in intensive care

Summerland’s positive test rate is much higher than surrounding local health areas, according to internal BC CDC documents. (BC CDC)
Summerland third behind Surrey, Abbotsford in daily per capita COVID-19 cases

Interior Health is rolling out additional vaccine availability to the community

Amazon is pausing its Prime Day marketing event in Canada this year amid ongoing COVID-19 outbreaks at its facilities in Ontario. THE CANADIAN PRESS/Nathan Denette
Amazon Prime Day halted in Canada due to COVID-19 outbreaks in warehouses

The postponement of the event was put in place to protect the health and safety of employees and customers, the company says

Ally Thomas, 12, seen in an undated family handout photo, died on April 14 from a suspected overdose. Her family says they are frustrated more public supports weren't available when they tried to get her help. THE CANADIAN PRESS
Minister says suspected overdose death of 12-year-old pushing B.C. to ‘do better’

Minister Sheila Malcolmson of Mental Health and Addictions says the government is working ‘as hard as we can’ to build a system of care for youths

At this Highway 3 check point, police officers will be asking for identification from drivers, documentation regarding the driver’s name and address, and the purpose for the driver’s travel. (RCMP)
No fines handed out at 1st COVID-19 roadblock as checks move across B.C.

Cpl. Chris Manseau says a total of 127 vehicles were stopped at a roadblock in the Manning Park area

A spectator looks on as the Olympic Caldron is relit in downtown Vancouver, Wednesday, February 12, 2020. THE CANADIAN PRESS/Jonathan Hayward
Small majority of B.C. residents in favour of a Vancouver 2030 Olympic bid: survey

A new survey shows a split over the possibility of public money being spent to organize and host the winter games

Junior A team Coquitlam Express is offering all Tri-City residents who get vaccinated against COVID-19 a free ticket to one of their games. (Facebook/Coquitlam Express)
B.C. hockey team offering free tickets to hometown fans who get the COVID-19 vaccine

‘We know the only way to get fans back is people getting vaccinated,’ says Express’ general manager Tali Campbell

Jobs Minister Ravi Kahlon speaks in the B.C. legislature, describing work underway to make a small business and tourism aid package less restrictive, Dec. 10, 2020. (Hansard TV)
B.C.’s latest COVID-19 restrictions cost thousands of service jobs

Part-time workers set back again by spike in virus spread

Most Read