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PARTY POSITION ON HOUSING MARKET

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Canadians want to own homes, but the lack of supply is causing a crisis with more buyers chasing fewer and fewer homes. Creating more supply is essential in addressing the affordability crisis:
• Liberals: Building, preserving, or repairing 1.4 million homes over four years; converting empty office spaces into housing with $300 million in new funding; creating the Multigenerational Home Renovation Tax Credit to support secondary suites in homes; creating a Housing Accelerator Fund worth $4 billion to help cities build homes faster.
• Conservatives: Build 1 million homes in the next three years; release 15 per cent of federal real estate for housing; encourage developers to invest in rental housing by extending the ability to defer capital gains tax when selling a rental and reinvesting in rental housing.
• NDP: Set up a dedicated fast start fund to streamline the application process; mobilize federal resources for co-op, social and non-profit housing by repurposing unused and under-used properties; spur the construction of affordable homes by waiving the federal portion of the GST/HST on the construction of new affordable rental units.

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