Federal NDP Would Work to Get Big Money Out of Canada’s Housing Market
News from the Campaign of Canada’s New Democrats
Posted August 18th, 2021 on Niagara At Large
Niagara, Ontario – Federal NDP Leader Jagmeet Singh vowed today (this August 18th) to get big money out of Canada’s housing market and help young Canadians and families buy a home they can afford.
“I have heard from countless young families in Niagara who are worried that they will never be able to afford a place to call home. The Liberals have done nothing to help people who are struggling,” said the NDP candidate for Niagara Centre, Melissa McGlashlan. “The NDP has a plan to fix this and make the dream of owning a home a reality for families in Niagara.”
When Justin Trudeau came to power in 2015, the average home price in the Niagara Region was $252,300. Today, just 6 years later, the average home price is now a staggering $652,200.
He has let investors and corporations, often from overseas, take over the market and drive up the cost of housing in communities across Canada. In many cases they leave the houses empty while families struggle to find a place to live.
“No one can win a bidding war against investors with deep pockets who are looking to turn a profit, not build a neighbourhood. This is simply unfair,” said the NDP candidate for Niagara Falls, Brian Barker.
“New Democrats know that people in St. Catharines are worried that they will never be able to afford a home. Unlike the Liberals, we have a real plan to fix that,” said the NDP candidate for St. Catharines, Trecia McLennon.
Jagmeet and the NDP would go after big money investors by putting a 20 per cent Foreign Buyer’s tax on the sale of homes to individuals who are not Canadian citizens or Permanent Residents. He would target money laundering and organized crime within the housing sector by making it harder to hide behind nameless companies and giving regulators more teeth.
NIAGARA AT LARGE Encourages You To Join The Conversation By Sharing Your Views On This Post In The Space Following The Bernie Sanders Quote Below.