Canada's NDP


July 19th, 2021

REALITY CHECK: The Housing Crisis and Trudeau's Failure

Under Justin Trudeau, life is more expensive while he says the right thing with no intention of doing anything about it.

In May, inflation in Canada rose to 3.6%, the highest in a decade! This dramatic rise is partly due to the overheated real estate market which is seriously compromising access to housing for thousands of Canadians. With the cost of living rising, people simply can't save to buy a home.

To make matters worse, real estate speculators are buying those houses for obscene profits, leaving thousands of families without a roof over their heads. Recent reports show that One in five homes in Canada is bought by investors. More fuel for an overheating real estate market and housing crisis.

Even the Liberals' incentives to support first-time homebuyers are not working because the situation is so critical. Once again, the Liberals are only putting forward half measures to tackle the problem.

The Liberals talk a great deal about the housing crisis, but they don't act on it to support people. They will say that they have introduced a tax on vacant non-resident homes in their last budget. But the catch is that it will not come into effect until 2022 and it will only be a 1% tax. More Liberal half measures that won't change anything.

Available homes in Canada should be used to house people, not to make a profit for wealthy investors.

Canadians need a Prime Minister who cares about them, not the interests of foreign investor, real estate speculators and the ultra-rich.

Canadians deserve better.