Time To Take Another Step Forward

Earlier this year, Canadians voted in a new Liberal government with the hope of ushering in an era of economic prosperity, especially in the real estate industry. Recently, Conservatives called on Carney and his administration to do more to fulfill their promise to build more homes quickly. The goal should be to ease home prices, taxes and the bureaucratic red tape that contribute to rising costs on all market housing.

Conservatives suggest a four-point reversal of current policies to get all real estate back on track.

• Amend the policy of cancelling the GST on new homes worth up to $1.3 million to apply to all home buyers, not just first-time purchasers.
• Eliminate the capital gains tax IF the home seller reinvests in home building.
• Provide incentives to municipalities to free up land for development and to cut development charges on new homes.
• Place stricter controls on immigration so our population does not increase far beyond the point where we have enough homes to house newcomers.

Conservatives stress that construction workers laid off now will be needed desperately when the market picks up again, unless they change careers. They also called for the Liberals’ Major Projects Office of Canada to act more quickly on approving the many projects under consideration. Congratulations to the Conservatives for their creative thinking and for offering to work with the Liberals in this endeavour. Here’s hoping that we see the Liberals fast track other actions to get our comprehensive housing industry moving again.