Once again, Canadians are learning that under this Liberal government the dream of homeownership or an affordable place to live is moving further and further away. Recently, the Canadian Real Estate Association reported the largest housing inflation numbers ever — with the price of homes increasing 3.5 per cent in just the last month, and a staggering 29.2 per cent over the last year.
Under Justin Trudeau, the price of a home has now doubled. When the Liberals took power, the typical home cost $434,500, versus the present $868,400. This is making the dream of homeownership unattainable for families and young people across Canada, and is driving the sky-high rent costs we are seeing in cities across the country. While the Liberal government fails to address the major issues of supply and continues to hang on to failed programs like the First Time Homebuyer Incentive that most Canadians do not qualify for, the housing affordability crisis continues to get worse with no end in sight.
As Canada’s inflationary housing bubble continues to grow, the Liberal government’s response is more inflationary fuel on the fire. Finance Minister, Chrystia Freeland refuses to acknowledge the problem even exists. The Liberal government, with support of the NDP voted against a Conservative motion to address this crisis, leaving us to conclude that the Liberals and NDP would support new taxes on primary residences and continued housing shortages.