Election 2019: We said, they said

(Part 2 of 2)

How do the parties’ positions on housing align with organized real estate’s recommendations?

A “Yes in the table below indicates the party says it plans to address the issue, but a “Yes” does not mean their position on these specific proposals accurately matches CREA’s or BCREA’s recommendations.

CREA Recommendations        
Housing Supply:        

Use federal infrastructure investment to encourage construction of new housing

  Yes Yes  

Rules & Regulations:

Adjust the mortgage stress test to reflect regional differences        
Allow exemptions to the mortgage stress test for existing mortgage holders who are renewing   Yes Yes  
Accommodate the growing number of Canadian gig workers seeking to enter the housing market        
BCREA* Recommendations        
Rebate or exempt GST on new rental housing        

Make purpose-built rental projects more financially viable


Link federal transit investments with federal housing targets

Leverage federal contributions to local rapid transit projects by requiring housing targets        
Explore a transit-oriented affordable housing fund        
Give referred terms and rates to projects within CMHC’s Rental Construction Financing initiative        

Adjust the mortgage stress test

Make it more flexible according to risk level        
Remove it for mortgage transfers and switches   Yes Yes  
Reinstate 30-year amortizations for insured mortgages   Yes Yes  
  Read the full Liberal platform here. More details on first-time home buyers and affordable housing proposals here. Read the Conservatives’ news release here. Read the full NDP platform here.

Read the full Greens’ platform here.

Note: For a full list of the parties’ proposals on housing and to see how they compare with one another, check out our Election story from last week and a list of election meetings co-sponsored by the FVREB.  Find a summary of the parties’ platforms on housing at CREA’s REAL Ideas website.

*BCREA and five organizations made these recommendations for housing affordability solutions to the federal parties: the Canadian Mortgage Brokers Association BC, Landlord BC, the Mortgage and Title Insurance Industry Association of Canada, the Real Estate Board of Greater Vancouver, and the Urban Development Institute.