Making housing more affordable for all Canadians

April 8, 2022

Everyone deserves a safe and affordable place to call home.

But for many Canadians – young people in particular – the dream of owning their own home feels like it’s moving further out of reach. That has to change.

Only our Liberal team is stepping up to make housing more affordable for all Canadians.

Here’s how:

Build more homes

  • Doubling the rate of construction over the next 10 years.
  • Incentivizing cities to build more homes.
  • Building new affordable units faster, including for renters and those most vulnerable.
  • Creating a new generation of co-op housing.

Help Canadians buy their first home

  • Introducing a Tax-Free First Home Savings Account to allow prospective first-time home buyers to save up to $40,000 toward their first home.
  • Doubling the First Time Home Buyers’ Tax Credit to provide more support to Canadians buying their first home.
  • Supporting rent-to-own projects to help renters become owners.

Protect renters and buyers

  • Moving forward on a Home Buyers’ Bill of Rights.
  • Ensuring housing is for Canadians, not big corporations.
  • Providing a $500 payment this year to nearly one million Canadian renters who are struggling with the cost of housing.

Ban foreign buyers and crack down on speculation

  • Banning new foreign ownership of Canadian houses for the next two years to ensure Canadians have more access to purchasing homes.
  • Establishing an anti-flipping tax on residential properties, requiring properties to be held for at least 12 months, to crack down on speculation.

We have a real plan that will create jobs, grow the middle class, and help ensure Canadians can get a home of their own.

Chip in to support our plan