Politicians of all stripes are making major promises to curb Canada’s out-of-control housing market, in an attempt to lock down your vote in the ongoing federal election.
Some are controversial, including a Conservative pledge to ban foreigners from purchasing residential real estate for two years – which was matched by the Liberals this week.
Others, like changes to insured mortgages and transparency on bidding, are just as important, but less high-profile.
Housing experts, who’ve spent years trying to convince the BC and Ottawa governments to intervene in a more direct way, say the election is drumming up some interesting proposals.
“We’ve got to deal with it,” said Tom Davidoff, director of the University of BC’s Centre for Urban Economics and Real Estate.
“It seems like it’s the issue on everybody’s mind, other than COVID. I think it’s terrific if the parties want to get serious. They’re all really putting stuff on the table. There’s an element of pandering to all of them, yet all of the Liberals, NDP and Conservatives have different but decent ideas.”
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