HANSARD: Will Liberals stop corporations from getting their hands on more low-cost rental homes with a moratorium and help non-profits secure these homes with an acquisition fund?

Debates of May 18th, 2023, 2:30 p.m.
House of Commons Hansard #200 of the 44th Parliament, 1st Session
Oral Questions

Jenny Kwan Vancouver East, BC

Mr. Speaker, giant housing corporations are treating people's homes like a stock market and evicting long-time tenants to jack up rents. The Minister of Housing thinks a 1% tax on empty homes and a two-year ban on foreign investments will solve the housing crisis. He is wrong.

The housing advocate says these Liberal half-measures are dangerous and short-sighted. Financial firms already own 20% to 30% of the rental stock.

Will the Liberals stop corporations from getting their hands on more low-cost rental homes with a moratorium and help non-profits secure these homes with an acquisition fund?

Ahmed Hussen Minister of Housing and Diversity and Inclusion

Mr. Speaker, the hon. member is denying the fact that we are the party in office that brought in the Canada housing benefit, a plan to support renters across the country that is currently helping tens of thousands of vulnerable renters. In addition to that, we have legislated an annual 1% tax on vacant non-Canadian residential real estate as well as a two-year ban on foreign investments in Canadian residential real estate. We are also reviewing the tax treatment of real estate investment trusts.

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