(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.
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| CREA Recommendations | ||||
| Housing Supply: | ||||
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Use federal infrastructure investment to encourage construction of new housing |
Yes | Yes | ||
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Rules & Regulations: |
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| 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 | ||||
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Make purpose-built rental projects more financially viable |
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Link federal transit investments with federal housing targets |
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| 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 | ||||
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Adjust the mortgage stress test |
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| 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.