{"id":53,"date":"2016-03-30T21:07:47","date_gmt":"2016-03-31T01:07:47","guid":{"rendered":"http:\/\/www.dinani.ca\/blog\/?p=53"},"modified":"2016-03-30T21:07:47","modified_gmt":"2016-03-31T01:07:47","slug":"what-the-new-liberal-government-means-for-home-owners-and-real-estate","status":"publish","type":"post","link":"http:\/\/www.dinani.ca\/blog\/2016\/03\/30\/what-the-new-liberal-government-means-for-home-owners-and-real-estate\/","title":{"rendered":"What the New Liberal Government Means for Home Owners and Real Estate"},"content":{"rendered":"<h4 class=\"subheading\"><span style=\"font-size: 16px;\">The Conservative government was always the one most overtly aligned with home-ownership incentives for Canadians \u2013 so what happens now?\u00a0<\/span><\/h4>\n<div class=\"top-video-inline\"><\/div>\n<div class=\"standard-article-single-image\">\n<div class=\"storyImage above\">\n<div class=\"figureWrapper\"><img decoding=\"async\" loading=\"lazy\" title=\"Justin Trudeau's 2015 federal election win acceptance speech\" src=\"http:\/\/images.glaciermedia.ca\/polopoly_fs\/1.2091156.1445386326!\/fileImage\/httpImage\/image.jpg_gen\/derivatives\/original_size\/justin-trudeau-2015-election-win-acceptance-speech.jpg\" alt=\"Justin Trudeau 2015 election win acceptance speech\" width=\"755\" height=\"423\" \/>Justin Trudeau&#8217;s 2015 federal election win acceptance speech \u2014 YouTube.com<\/div>\n<\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 14px;\">After sailing to an unexpected majority victory on October 19, Justin Trudeau and his new Liberal government have their work cut out for them in the months and years ahead \u2013 not least when it comes to housing.<\/span><\/p>\n<p><span style=\"font-size: 14px;\">And although the Conservatives have been the party traditionally associated with supporting and incentivizing home ownership for Canadians, it certainly seems the Liberal government has a comprehensive list of housing pledges.<\/span><\/p>\n<p><span style=\"font-size: 14px;\">At the heart of this platform is affordable housing for low-income and disadvantaged Canadians \u2013 which is exactly as it should be. After all, most Canadians who are already home owners are probably doing relatively OK \u2013 even if their household debt is higher than ideal.<\/span><\/p>\n<p><span style=\"font-size: 14px;\">It\u2019s the people who struggle to get into the real estate market \u2013 or to find stable housing at all \u2013 that should be any government\u2019s first priority.<\/span><\/p>\n<p><span style=\"font-size: 14px;\">Trudeau mentioned in\u00a0<a href=\"https:\/\/www.youtube.com\/watch?time_continue=445&amp;v=t2u1SCbgdOw\" target=\"_blank\">his acceptance speech<\/a>\u00a0the promise of more affordable housing and help for Canadians \u201choping the join the middle class\u201d.<\/span><\/p>\n<p><span style=\"font-size: 14px;\">And back in September, he said, \u201cSafe, adequate and affordable housing is essential to building strong families, strong communities and a strong economy.<\/span><\/p>\n<p><span style=\"font-size: 14px;\">&#8220;We have a plan to make housing more affordable for those who need it most \u2013 seniors, persons with disabilities, lower-income families and Canadians working hard to join the middle class.\u201d<\/span><\/p>\n<p><span style=\"font-size: 14px;\">The Liberal party website\u00a0<a href=\"http:\/\/www.liberal.ca\/\" target=\"_blank\">www.liberal.ca<\/a>\u00a0further details the housing pledges made by the party. These include:<\/span><\/p>\n<ul>\n<li><span style=\"font-size: 14px;\">\u201csignificant\u201d investment in affordable housing for low-income and disadvantaged Canadians,building\u00a0more new housing units and refurbishing old ones\u2013 part of a promised $20 billion of social infrastructure investment over 10 years;<\/span><\/li>\n<li><span style=\"font-size: 14px;\">mandating the Canada Mortgage and Housing Corporation and the new\u00a0Canada Infrastructure Bank to \u201cprovide financing to support the construction of\u00a0new, affordable rental housing\u201d for middle- and low-income Canadians;<\/span><\/li>\n<li><span style=\"font-size: 14px;\">supporting municipalities to\u00a0maintain rent-geared-to-income subsidies in co-ops, and giving communities funding for Housing First initiatives for homeless Canadians;<\/span><\/li>\n<li><span style=\"font-size: 14px;\">the removal of GST on capital investments in affordable rental housing to \u201cincrease and substantially renovate the supply of rental housing\u201d across Canada;<\/span><\/li>\n<li><span style=\"font-size: 14px;\">an immediate inventory of government-owned land to see if it can be used for affordable homes \u201cwhere there is a pressing need\u201d;<\/span><\/li>\n<li><span style=\"font-size: 14px;\">a new version of the Home Buyers\u2019 Plan that allows Canadians impacted\u00a0by \u201csudden and significant life changes\u201d to buy a house without tax penalty; and<\/span><\/li>\n<li><span style=\"font-size: 14px;\">a review of \u201cescalating home prices in high-priced markets \u2013 like Vancouver and Toronto \u2013 and to \u201cconsider all policy tools that could keep home ownership within\u00a0reach for more Canadians.\u201d \u00a0<\/span><\/li>\n<\/ul>\n<p><span style=\"font-size: 14px;\">The website adds that\u00a0the Liberal government plans toquadruple federal investment in public transit \u2013 \u201cand, to make sure projects actually get built, we&#8217;ll make funding flexible for municipalities.\u201d<\/span><\/p>\n<p><span style=\"font-size: 14px;\">For Vancouverites,\u00a0<em>if<\/em>\u00a0the Liberals make good on all their promises (and it\u2019s a big \u201cif\u201d), it will be a welcome relief on numerous levels. Finally we might see the kind of affordable housing initiatives that this city desperately needs to help residents that have been left out in the cold by the relatively high cost of real estate.<\/span><\/p>\n<p><span style=\"font-size: 14px;\">For those people who would not qualify for such social housing, but still find it hard to get into \u2013 or move up in \u2013 the real estate market, investment in Vancouver\u2019s transit infrastructure would make a huge difference. Those areas that are currently more affordable but not well served by transit could finally become viable options for commuters. As a growing city that is pushing its average-earning residents further and further out (as usually happens with every growing city), improved transit and transportation infrastructure is vital. What&#8217;s more, the vastly increased opportunities for higher density and development in other neighbourhoods can only help with housing supply and prices.<\/span><\/p>\n<p><span style=\"font-size: 14px;\">And for those people who are not currently struggling in Vancouver\u2019s real estate market \u2013 comfortable or wealthy home owners who are happy with their lot and the equity they have built up \u2013 the promised initiatives could also be beneficial. If the feds fund successful social housing programs, as well as improved transit and infrastructure creating new neighbourhoods and development, those people currently clamouring for increased taxes and penalties at the higher end of the market will likely be quieted.<\/span><\/p>\n<p><span style=\"font-size: 14px;\">Perhaps even the furore over foreign buyers and their perceived impact on local house prices would die down, as people at all levels of home ownership become more satisfied and less inclined towards finger-pointing. Instead of having someone to &#8220;blame&#8221; about housing, we might have someone to thank.<\/span><\/p>\n<p><span style=\"font-size: 14px;\">We can but hope.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>See more at: http:\/\/www.rew.ca\/news\/editorial-what-the-new-liberal-government-means-for-home-owners-and-real-estate-1.2091129#sthash.jBFOojZe.IRl0xK8i.dpuf\u00a0<span class=\"author\"><a class=\"suppress-print-href\" href=\"http:\/\/www.rew.ca\/authors?author=Joannah%20Connolly\">Joannah Connolly<\/a><\/span>\u00a0<span class=\"story-source source-nolink\">REW.ca<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Conservative government was always the one most overtly aligned with home-ownership incentives for Canadians \u2013 so what happens now?\u00a0 Justin Trudeau&#8217;s 2015 federal election win acceptance speech \u2014 YouTube.com &hellip; [<a href=\"http:\/\/www.dinani.ca\/blog\/2016\/03\/30\/what-the-new-liberal-government-means-for-home-owners-and-real-estate\/\">read more<\/a>]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[11],"tags":[],"_links":{"self":[{"href":"http:\/\/www.dinani.ca\/blog\/wp-json\/wp\/v2\/posts\/53"}],"collection":[{"href":"http:\/\/www.dinani.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.dinani.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.dinani.ca\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/www.dinani.ca\/blog\/wp-json\/wp\/v2\/comments?post=53"}],"version-history":[{"count":1,"href":"http:\/\/www.dinani.ca\/blog\/wp-json\/wp\/v2\/posts\/53\/revisions"}],"predecessor-version":[{"id":54,"href":"http:\/\/www.dinani.ca\/blog\/wp-json\/wp\/v2\/posts\/53\/revisions\/54"}],"wp:attachment":[{"href":"http:\/\/www.dinani.ca\/blog\/wp-json\/wp\/v2\/media?parent=53"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.dinani.ca\/blog\/wp-json\/wp\/v2\/categories?post=53"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.dinani.ca\/blog\/wp-json\/wp\/v2\/tags?post=53"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}