Canadians across the country went to the polls Monday, Oct. 21 and gave Justin Trudeau another opportunity to lead Canada with a minority government.
Let’s look at some of the promises through the prism of housing in Canada:
If you’re a first-time home buyer, this means you’ll be looking for the Liberals to make good on their promise to expand the First-Time Home Buyer Incentive to allow buyers in Toronto, Vancouver and Victoria to qualify for up to $769,000 instead of $505,000 like the rest of the country.
The Liberals also promised a 1% speculation tax on non-residents and non-Canadians. What that means and whether it has the intended effect of slowing down demand remains to be seen.
They also campaigned on the idea of purpose-built, accessible and affordable housing for veterans and others. How to fund it wasn’t discussed.
Finally, they’ve talked about working with others to crack down on financial crime in the real estate sector. That’s badly needed and will require a great deal of coordination to get it done.
“Work together” is going to be key in a minority government. Let’s hope they figure out how to do that rather than employing divisive political maneuvering.
They didn’t start out well. Trudeau started his victory speech in Montreal just moments after Conservative Leader Andrew Scheer began to deliver his concession speech in Regina, and Scheer also began his speech before NDP Leader Jagmeet Singh finished his in Burnaby, B.C.
At one point, all three men were speaking at the same time. Was this kind of posturing really necessary?
Up until this term, it’s been an unwritten convention for the election winner to let those who have lost address their supporters first, and to go one at a time.
That’s basic school-yard civility; the lack doesn’t bode well for getting things done.
Mathieu Powell I President
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