Today, one in four Canadian households is paying more than it can afford for housing, and one in eight cannot find affordable housing that is safe, suitable, and well-maintained. We must do better. The Liberal Party will restore federal leadership on affordable housing.
Far too many Canadians are being priced out of home ownership, placing pressure on already crowded rental markets and on crumbling affordable housing units. This harms our society and our economy: affordable housing is critical to solving many of the social challenges facing our communities, and it is essential to a strong, dynamic labour force.
Anyone who lives in the Yukon knows from experience, and from the work of the Yukon Anti-Poverty Coalition, about the affordable housing crisis we face. As one of the founders of the Yukon Anti-Poverty Coalition, I am delighted that this announcement provides steps that help address problems that we have been highlighting for years.
The Liberal plan includes direct investments in affordable housing, incentives to expand affordable rental housing, and more flexibility for new home buyers. Our plan will make housing more affordable for those who need it most – seniors, persons with disabilities, lower-income families, and Canadians working hard to join the middle class.
A Liberal government will prioritize investment in affordable housing and seniors’ facilities as part of a historic ten-year investment of nearly $20 billion in social infrastructure. This will build new units, refurbish existing ones, renew co-operative agreements, and provide operational funding for municipalities that have housing projects.
We will provide $125 million per year in tax incentives to increase – and substantially renovate – the supply of rental housing across Canada and we will finance the construction of new affordable rental housing for middle and lower-income Canadians. Liberals will also inventory federal lands and buildings, to see which could be made available for the construction of affordable housing in communities where there is a pressing need.
Finally, we will modernize the existing Home Buyers’ Plan to help more Canadians finance the purchase of a home at critical times in their lives.
Any unused portions of the Infrastructure Fund will be added to the First Nation and Municipal Gas Tax fund at the end of the year.
Housing first is the key starting point to addressing so many challenges in our community. Safe, adequate, and affordable housing is essential to building strong families, strong communities, and a strong economy. We will make it easier for Yukoners, and all Canadians, to find an affordable place to call home.
Liberal Party of Canada
Backgrounder – Real Change: Affordable housing for Canadians