So we’ve got some new details. We previously knew that the Liberal Part vows to cut the GST tax on first-time home buyers on homes up to $1 million.
The Liberal Party is also vowing to create an crown corporation agency Build Canada Homes (BCH) which will act as a developer to build housing, including on public lands. The next plan is to increase housing supply (Ref: https://liberal.ca/housing-plan/)
Housing will be pre-fabricated modular homes, with architectures matching the typical architecture you’ll find in each province, aligned with regional building codes, construction methods and materials. These modular homes are designed for scalable production. (Ref: https://www.housingcatalogue.cmhc-schl.gc.ca/)
These homes are obviously not going to be very luxurious but it is a start. I think at face value this is a good thing. It’s actually surprising to see this coming from a Liberal Party, but I digress.
Additionally, the Liberal government promises to facilitate conversions of existing structures into affordable housing units by reducing tax liabilities for private owners of multi-purpose rentals when they sell their building to a non-profit operator. (ref: https://liberal.ca/wp-content/uploads/sites/292/2025/03/Mark-Carneys-Liberals-unveil-Canadas-most-ambitious-housing-plan-since-the-Second-World-War.pdf)
This is socialized housing, and I believe it is absolutely needed. This does not effect traditional private home owners, who may have specific wants or needs, but this housing program looks promising to provide a cheaper alternative into home ownership.
