Statement by Chrystia Freeland​

​

For too many Canadians, in particular young Canadians, the high cost of housing is a barrier to financial security.

​

If I become Prime Minister, here’s how I’ll fight to fix the housing crisis:

​

1. Tie the number of new immigrants to housing availability. For the good of newcomers and all Canadians, we must not grow our population faster than we can build homes.

    

2. Cut municipal development charges to lower the cost of building homes. My government will require municipalities to cut the development charges they levy in order to access new federal infrastructure funding.

    

3. Help younger Canadians save for a downpayment, tax-free. My government will increase the Tax-Free First Home Savings Account annual contribution limit from $8,000 to $10,000, and the lifetime limit from $40,000 to $50,000.

    

4. Eliminate the GST on new homes for first-time buyers, saving them up to $75,000. To help younger Canadians become homeowners, my government will remove the federal tax on new homes worth up to $1.5 million for first-time buyers.

    

5. Bring back Rent-to-Own programs. By providing renters with a real path to homeownership through the rent they are already paying, my government will help more Canadians become homeowners.

    

6. Ban AI algorithms that use personal information to artificially raise rents. Big corporate landlords are using AI to analyze renters’ information to collude, set rates, and squeeze renters. My government will ban this practice outright.

    

7. Give renters credit for on-time rent payments. Within six months, my government will implement ways for renters to improve their credit by paying rent to help renters qualify for a mortgage.

    

8. Build more co-ops and affordable housing. As Prime Minister, I will champion co-op housing as a solution to the housing crisis. I will also turn underused federal office spaces into safe, affordable homes for those experiencing homelessness.

    

9. Kickstart modular housing factories. My government will finance modular homebuilders to start-up and scale-up factories across the country. I will help affordable housing providers sign contracts with modular homebuilders, particularly when demand for modular homes is low. And I will cut red tape and harmonize interprovincial regulations to allow modular builders to build faster.

    

10. Require municipalities to cut red tape and speed up permitting. To ensure every municipality is doing everything it can to enable housing construction, my government will work with municipalities to automatically approve Housing Catalogue standardized designs, and in major urban centres, four units per lot. In addition, my government will claw back funds from municipalities that do not follow through on their Housing Accelerator Fund commitments.

​

There is no silver bullet to fixing the housing crisis; no one policy that will build enough homes at prices Canadians can afford.

 

My government will lead a Team Canada effort to ensure all orders of government–very much including the federal government–do their part to ensure all Canadians, whether they choose to rent or buy, have a place to call home.