Prime Minister Trudeau recently sent members of his Cabinet their marching orders for the new session of Parliament. Housing Minister and local MP Ahmed Hussen has been given a daunting list that probably won’t be tackled because of the transitory nature of minority governments. Such governments have a lifespan of around 18 months so the clock is ticking. There’s a whole lot of aspirational societal goals included in the letter but these are the ones that will most affect housing affordability. Minister Hussen is directed to help Canada’s housing shortage by,
- legislating against rent gouging and renovictions
- instituting an anti home-flipping tax
- temporarily banning foreign buyers
- curbing excessive profits in the housing industry
- increasing consumer protection in real estate transactions
- banning blind bidding in real estate deals
- encouraging renters to enter the housing market through rent-to-own schemes
- supporting office conversion into residential housing
Many of these directives were contained in the Liberals’ 2021 election manifesto. How much of this list will be accomplished by 2023 when the next federal election will likely occur? My cynical guess is very little but the items will probably be recycled for the 2023 Liberal Platform.
Read the full Trudeau letter here.