Housing

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Home ownership

Liberal

  • Introduce a new First-Time Home Buyer Incentive giving up to 10% off the purchase price of a first home.
  • Increase the qualifying value to nearly $800,000 in places where houses cost more.

Conservative

  • Modify the mortgage stress test to ensure first-time homebuyers aren't unnecessarily prevent from accessing mortgages.
  • Remove the stress test from mortgage renewals.
  • Increase amortization periods to 30 years for first-time homebuyers.

NDP

Introduce 30-year terms to CMHC insured mortgages on entry-level homes for first-time home buyers, while doubling the Home Buyer's Tax Credit to $1,500.

Green

Eliminate the first-time home buyer grant.

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Housing supply

Conservative

  • Make surplus federal real estate available for development to increase the supply of housing.
  • Introduce a Build More Homes Competition for municipalities.

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NDP

Create 500,000 units of quality, affordable housing in the next ten years, with half of that done within five years.

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Green

  • Legislate housing as a legally protected fundamental human right for all Canadians and permanent residents.
  • Appoint a Minister of Housing.
  • Target 25,000 new and 15,000 rehabilitated units annually for the next 10 years.
  • Increase funding.
  • Create a co-op housing strategy.

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Speculation

Liberal

Put in place a consistent national tax on vacant residential properties owned by non-Canadians who don't live in Canada.

Conservative

  • Launch an inquiry into money laundering in the real estate sector.
  • Work with industry partners to eliminate practices that inflate housing prices.

NDP

Put in place a Foreign Buyer's tax on the sale of homes to individuals who aren't Canadian citizens or permanent residents, while working with provinces to create a public beneficial ownership registry to increase transparency about who owns properties.

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Home heating

Conservative

Remove the GST from home heating costs.