Trudeau Releases Plan to Solve the Housing Crisis, Conservatives Disagree
Last week, Justin Trudeau’s government released their plan to “solve” the housing crisis. It aims to develop 3.87 million new homes by 2031, a minimum of 2 million net new homes, through various initiatives and programs such as the Public Lands for Homes Plan and the Apartment Construction Loan Program. Overall, the plan is heavily backed by Budget 2024, with the main goal for Canadians to not spend more than 30% of their income on housing costs.
Prime Minister Trudeau unveils plan to build almost 4 million homes by 2031. Credit: CTV News.
The plan focuses on three major ideas: building more homes, reducing the cost of homes, and helping Canadians afford homes. Among many initiatives, the government plans on launching Canada Builds, a team dedicated to building affordable homes for the middle class, also including the under-utilized land across the country. In urban areas, the plan suggests building up, by building housing on top of shops and businesses, taking advantage of existing infrastructure. For renters, the plan will implement a Tenant Protection Fund to enforce renter’s rights and the landlord’s duties. This aims to make it easier to own a home in Canada. For those who cannot afford a home, the plan will dedicate $1 billion for the Affordable Housing Fund for more affordable housing. It also mentions encampments, and proposes to invest $250 million in dignified housing.
Watch what Conservative Party Canada Leader, Pierre Poilievre had to say about Trudeau’s housing record.
The reaction to the plan has been mixed, with some believing it will directly lower prices and others saying that the plan is too little too late. In an interview with CTV News Channel, Canadian Alliance to End Homelessness president and CEO Tim Richter states that "A lot of the stuff that you see in today's plan is based on things that have worked in the past." However, in a report by CTV News, Conservative MP Scott Aitchison notes the previous policy failings of the current administration, saying that “Trudeau's vanity announcements and billion-dollar photo ops don't change the fact that his strategy has doubled housing costs over the last eight years.”
The Conservative Party agrees that housing is a top concern and has a similar, but distinct plan to alleviate stresses that come from housing. Late last year, they proposed the Building Homes Not Bureaucracy Act, which centers on cities and rewarding municipalities that can get housing units developed quickly. In a statement written by the Conservative Party, “Cities must increase the number of homes built by 15% each year and then 15% on top of the previous target every single year.”
Sources:
https://www.pm.gc.ca/en/news/news-releases/2024/04/12/announcement-canadas-housing-plan
https://www.infrastructure.gc.ca/housing-logement/housing-plan-report-rapport-plan-logement-eng.html
