Last week, we talked about Justin Trudeau’s Liberal government being in danger after the dramatic breakup with the NDP.
If you missed the juicy story, make sure you catch up with last week’s video!
As of now, roughly 68% of Canadians want Trudeau to step down before the next election.
This widespread dissatisfaction is increasing the likelihood of the Conservatives winning the next election, as they continue to lead in national polling.
If the Conservatives win the next election, it could significantly reshape Canada’s housing market.
So it is very important for you to understand the potential changes because they may affect your decision to buy or sell.
Nowadays, more and more people are paying attention to politics because issues like climate change, healthcare and economic inequality have made politics more personal and relevant.
If you like this kind of video where I made politics simple and relevant to you, give me a like!
The Liberals and Conservatives have significantly different philosophies on housing, so if we have a switch in government, we are going to see drastic changes in housing policies.
Let me break down the key contrasts between their strategies for you.
#1 Government Intervention vs Market Solutions
Justin Trudeau’s Liberals believe in a hands-on approach.
They believe that if the government doesn’t step in, the housing crisis will only get worse.
So they’ve been pouring billions of dollars into building affordable homes and offering programs to help those struggling to find a place to live.
For example, they have rolled out the National Housing Strategy, which aims to create affordable housing for lower-income people.
They have also introduced programs like the First-Time Home Buyer Incentive, which helps new buyers with down payments.
The idea is to give direct support and make housing more affordable for everyone.
On the other hand, the Conservatives, led by Pierre Poilievre, think the government might be part of the problem.
Their philosophy is that if you give the private sector more freedom, housing issues will sort themselves out over time.
They believe in reducing government regulations, like zoning laws and taxes, things that slow down construction.
Rather than funding affordable housing projects directly, the Conservatives would focus on creating incentives for developers to build more homes.
So they would likely scale back government-funded housing projects, preferring the market to drive the solution.
For them, less government involvement and fewer regulations could open the door for more development, which they believe will lower housing costs in the long run.
#2 Renters vs Homeowners
The Liberals focus heavily on protecting renters.
They have pushed for rent controls and eviction protections.
Remember I was looking for a Member of Parliament to support my petition for automatic eviction when tenants don’t pay rent?
My friends connected me to a few MPs that they personally know.
Sadly, none of them is willing to support something that doesn’t align with the current government’s philosophy.
Instead of focusing on renters, the Conservatives lean more towards homeownership.
They focus on reducing barriers like mortgage stress tests and taxation that might prevent people from entering the housing market.
They tend to focus less on direct renter protections and more on increasing the supply of rental units by encouraging private development.
Their philosophy is that by reducing regulatory barriers and increasing overall supply of homes, rents will stabilize or decrease over time.
They generally favor policies that give landlords more flexibility, rather than imposing caps or restrictions.
So these are the major contrasts between the 2 approaches to tackle our housing crisis.
A liberal government would result in a more direct government involvement in housing affordability and renter protections.
While a Conservative government would focus on reducing barriers for private developers and promoting homeownership.
Would you prefer the government to step in with more support for renters and affordable housing?
Or would you rather see the market take the lead, with fewer regulations and more homeownership opportunities?
I hope this video gave you an informative breakdown of what a Conservative win could mean for our housing market.
And I encourage you to cast your vote when the time comes.
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