2021 Federal Election Shines A Light On Canada’s Housing Affordability Crisis
Blog • September 8, 2021
Ontario’s REALTORS® are thrilled to see housing affordability top-of-mind for all three major Federal Parties. Canada’s millennials want to own homes: it’s part of the Canadian dream. But the housing affordability crisis means that dream is slipping out of reach for first-time buyers and young families.
“If the last election was about jobs, jobs, jobs, this election is about homes, homes, homes,” said Ontario Real Estate Association (OREA) President David Oikle. “Ontario’s Realtors are thrilled to see housing affordability is a top election issue with voters. All three major federal parties – the Liberal Party of Canada, the Conservative Party of Canada, and the New Democratic Party of Canada – have put ideas on the table to make the Canadian Dream of homeownership more affordable.”
OREA wants to keep that dream alive, but that will only happen if governments make it easier for first-time buyers to own a home, through increasing housing supply, reducing or eliminating unnecessary government red tape, and addressing affordability, especially for first-time buyers.
Increasing Housing Supply seems to be a hot topic. Canadians want to own homes, but the lack of supply is causing a crisis with more buyers chasing fewer and fewer homes. Creating more supply is essential in addressing the affordability crisis.
Click here for a breakdown of what each party is saying is the solution.