Canada's NDP

NDP

July 20th, 2021

REALITY CHECK: Under Trudeau, Hamilton Real Estate Prices Skyrocketed

Under Justin Trudeau, home ownership has become impossible for young Canadian families. And the Liberals only have half measures to offer; nothing concrete to help real people desperate for housing.

When Justin Trudeau took office in 2015, real estate in the Hamilton area was already experiencing a price spike. That year, home prices rose by 16.6%, the largest jump across the entire Canadian real estate market. The average price of a home in Hamilton was between $375,000 and $400,000.

Now, 6 years after Justin Trudeau came to power, the situation has only gotten worse without the Liberals ever doing anything about the housing crisis.

In the second quarter of 2021, the average price of a home in Canada rose this time by 25.3%, bringing the average price of a home in Canada to $727,000.

In Hamilton, it's even worse. The average price of a home is now $760,000, after an increase in the second quarter of 2021 of 23.8%.

What are the Liberals doing in the meantime? Dragging their feet once again. They are still only proposing half measures that don't work. Even their incentives to support first time home buyers are not working because the situation is so critical.

In their last budget, the Liberals only proposed a 1% tax on vacant non-resident homes that would come into force in 2022. 1%? Really? And by refusing to address money laundering in the real estate sector, the Liberals continue to side with the ultra-rich instead of Canadians who need help finding a home they can afford.

Canadians should not have to pay the price for the economic recovery. Families deserve a government that tackles the housing crisis head on and fights every day to make life more affordable for everyone.

That won't happen with Trudeau.

Canadians deserve so much better.