New Liberal Government and National Housing Strategy

After all the anticipation, it’s all set. Justin Trudeau becomes our new prime minister and the Liberals are a majority government. How will this impact Canada’s housing market? Let’s look at what the Liberal Party have pledged for national housing strategy.

The overall promises from the Liberals are a new home renovation tax credit and a national housing strategy. Here are the outlines of all the promises:

  • Providing $125 million annually tax incentives for supporting rental housing in Canada and renovation of the current supply.

  • Financing the construction of new affordable rental housing.

  • Make the Home Buyers’ Plan available not only to first-time buyers, but also to Canadians who are impacted by sudden and significant life-crisis. These include job relocation, the death of a spouse, divorce, or even the decision to take in an elderly relative.

  • Keeping homeownership within reach for more Canadians.

 Now let’s see what happens.

 

Rosy Zheng

Rosy Zheng

Broker
CENTURY 21 Leading Edge Realty Inc., Brokerage*
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