Curb speculation in housing: federal foreign buyers' tax, up new vacant home tax, new social housing

On April 27, 2021, MP Jenny Kwan spoke about the rapid increase in housing prices in Canada:

Jenny Kwan (NDP) Vancouver East, BC

"Mr. Speaker, the housing parliamentary secretary admitted that Canada is “a very safe market for foreign investment but...not a great market for Canadians looking for choices around housing”. He also said that Canada's housing market is “driven by speculation”.

The cost of housing in Canada has increased by 31% over the last year alone. This 1% vacant homes tax for non-Canadians living outside of Canada is not going to cut it. Will the government increase this tax, bring in a foreign buyers tax, and put in new money for the construction of social housing for those in core need?"

 

https://openparliament.ca/debates/2021/4/27/jenny-kwan-1/

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