Conservative Party outlines plan to make Canadian real estate more affordable
The Conservative Party of Canada is kicking off the election campaign with a platform that includes tackling housing affordability through a three-pronged approach.
One of the reasons for soaring prices experts often cite is a lack of available supply. The Conservatives say they will build a million homes in the next three years if elected.
“It’s time to face the fact: We have a housing crisis in Canada. Affording a home – to rent, let alone to buy – is slipping out of reach of Canadians across our country. The primary cause is that supply simply isn’t keeping up with demand,” reads the Conservative platform.
“Governments have not let Canadians build enough housing to keep up with our growing population.”
The party says it will do this by leveraging federal infrastructure investments, release at least 15 per cent of its real estate portfolio for housing while improving the Federal Lands Initiative, defer capital gains tax when selling a rental property and reinvesting in rental housing, explore converting unused office space to housing, work with Indigenous communities on their housing needs, and create an incentive for corporations and private landowners to donate property to Land Trusts for the development of affordable housing.