MEDIA RELEASE - Corporate pandering by Liberals and Conservatives puts housing prices out of reach

New Democrats propose real solutions to cool the housing market and provide affordable housing to Canadians
NDP Housing Critic Jenny Kwan and NDP Finance Critic Daniel Blaikie called on the government to help Canadians trying to afford a decent place to rent instead of allowing rich investors to buy up units and drive prices sky-high. Kwan and Blaikie shared Peggy Rafter’s story. Peggy is a low-income senior, who is facing renoviction from an apartment she’s lived in for 30 years. They were also joined by Bader Abu-Zohra, a local housing advocate and Co-Chair of the Ottawa-Vanier ACORN chapter.
"Huge corporations and wealthy investors are making big money by putting people like Peggy out of a home," said Kwan."The Liberals have to stop rewarding rich investors for buying up rental units and then jacking up the rent. This is what the financialization of housing means and it has to stop.”

May 10th, 2022

Corporate pandering by Liberals and Conservatives puts housing prices out of reach

New Democrats propose real solutions to cool the housing market and provide affordable housing to Canadians

OTTAWA — Today, NDP Housing Critic Jenny Kwan and NDP Finance Critic Daniel Blaikie called on the government to help Canadians trying to afford a decent place to rent instead of allowing rich investors to buy up units and drive prices sky-high. Kwan and Blaikie shared Peggy Rafter’s story. Peggy is a low-income senior, who is facing renoviction from an apartment she’s lived in for 30 years. They were also joined by Bader Abu-Zohra, a local housing advocate and Co-Chair of the Ottawa-Vanier ACORN chapter.

"Huge corporations and wealthy investors are making big money by putting people like Peggy out of a home," said Kwan."The Liberals have to stop rewarding rich investors for buying up rental units and then jacking up the rent. This is what the financialization of housing means and it has to stop."

The NDP fought for a commitment to address the financialization of housing in its Supply and Confidence Agreement with the Liberals. Now New Democrats are offering constructive proposals to realize that commitment by urging the government to:

        • Put a moratorium in place on the acquisition of affordable homes by REITs and other corporate landlords who are making big profits while driving up costs and renovicting Canadians.
        • Change how REITs are taxed since the tax code currently rewards investors for jacking up housing prices. Already, the seven largest apartment-owning REITs in Canada have saved a combined $1.5 billion through federal tax loopholes.
        • Put in place a federal non-profit acquisition fund to allow not-for-profit co-op or land trust organizations to purchase at-risk rental buildings when they come on the market. This will ensure wealthy investors can't monopolize the supply of affordable rental units.
“Canadians shouldn't have to compete with deep-pocketed investors just to get a home, but this is the system Liberals and Conservatives have created together over decades," said Blaikie. "Liberals and Conservatives would rather go after foreign buyers or the Bank of Canada than challenge their wealthy friends, but Canadians will not get relief until corporate investors are no longer permitted to use our affordable housing stock as a cash cow."

Housing validators:

“Over the past 30 years, Manor Village has become my life. There is such a sense of togetherness here. We’ve had neighbourhood potlucks and charity fundraisers and we help dig each other's cars out of the snow. Everyone takes care of each other here. I’ve raised my kids here. I have my grandkids here now. But since Forum Equities, a toronto-based investment company, took ownership of the neighbourhood in September 2020, I've been worried about how all of this could change. They've issued mass N13 eviction notices to do major renovations. Why? So they can destroy the community and raise the rent for tenants who can afford to pay more.

– Peggy Rafter, a resident of Manor Village for over 30 years now facing renoviction

"When tenants are pushed out of their homes they are forced into shelters, they are sleeping on friends' couches or they are forced out of the city entirely. This is why ACORN Canada supports a moratorium on the acquisition of properties by financialized landlords and other measures to crack down on predatory, corporate landlords."

– Bader Abu-Zahra, Co-Chair of the Ottawa-Vanier ACORN Chapter

Latest posts

In the morning of August 31, Egyptian journalist Hossam el-Hamalawy received an email from Immigration, Refugees and Citizenship Canada (IRCC), informing him that it had made a “u-turn” and reversed its decision to deny him entry to Canada.

The reversal came in response to a coordinated solidarity campaign that successfully pressured IRCC, Canada’s department of immigration, to change course.

Almost two weeks earlier, on August 18, IRCC rejected el-Hamalawy’s application for an Electronic Travel Authorization (eTA), which is required for German citizens to visit Canada. An Egyptian exile and refugee, el-Hamalawy resides in Berlin and has German citizenship. His eTA application was to attend two public speaking engagements in September at Simon Fraser University in British Columbia, Canada.

IRCC initially rejected el-Hamalawy’s eTA application after requesting three times that he provide official documents from the Egyptian government that corroborate his experience of detention and torture under the regime.

In Toronto, the Executive Director of REDWORD.ca, Mostafa Al-A’sar, prepared an open letter to Minister Diab signed by prominent labour leaders, journalists, and human rights activists, including Mostafa Fouad, Executive Director of HuMENA for Human Rights; Ehab Lotayef, founding member of Egyptian Canadian Coalition for Democracy; Judy Rebick, feminist and journalist; and Sid Ryan, former President of the Ontario Federation of Labour.

Other activists launched an email campaign, which encouraged supporters to send letters to Minister Diab and her Parliamentary Secretary, Liberal Member of Parliament Peter Fragiskatos (London Centre), as well as their own Members of Parliament. Letters were sent from across Canada, including Halifax, Nova Scotia (Diab’s home riding) and London, Ontario (Fragiskatos’s home riding). Activists in the United States, Britain, and Europe also shared the email appeal.

In addition to the appeal, activists organized two emergency phone actions, which delivered over 200 voicemail messages to Diab, Fragiskatos, and dozens of Members of Parliament.

Finally, on August 31, Jenny Kwan shared her own open letter to the Minister, which echoed all the demands of the solidarity campaign.

*Click image or link to read the article - https://springmag.ca/international-solidarity-works-hossam-el-hamalawy-wins-entry-to-canada

My open letter to Immigration Minister Lena Diab requesting urgent intervention to facilitate entry into Canada for Hossam el-Hamalawy.  

Mr. el-Hamalawy is an award-winning Egyptian journalist, scholar, and human rights advocate who fled persecution in Egypt and is now a German citizen living in exile. He was invited by faculty at Simon Fraser University (SFU) to give two academic lectures this September. However, IRCC denied his Electronic Travel Authorization (eTA) after demanding documentation from the very Egyptian authorities responsible for his past detention and persecution—putting him in an impossible and unsafe position.  

It is deeply problematic to expect political exiles to seek papers from the regime they fled. Canada must stand up for human rights, academic freedom, and freedom of the press. I am calling on Minister Diab to use her discretion and immediately reconsider this decision so Mr. el-Hamalawy can share his scholarship at SFU.  

Are you ready to take action?

Constituent Resources
Mobile Offices
Contact Jenny

Sign up for updates