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Decentralized Democracy

House Hansard - 47

44th Parl. 1st Sess.
March 28, 2022 11:00AM
Context: House Hansard - 47 - Mar/28/22
Mr. Eric Duncan
  • Mar/28/22 12:35:07 p.m.
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  • Re: Bill C-8 
Madam Speaker, I thank my colleague from the Bloc Québécois for his question and his intervention. In this section, there is a 1% tax on vacated homes. I would use as an example, in the province of Quebec, perhaps the city of Montreal, where housing prices are in the millions of dollars. With no disrespect to the 1%, that could be into the tens of thousands of dollars. I would argue that it does not disincentivize some people, if they are those who can afford to spend $3 million or $4 million to buy a home and leave it vacant. We have asked at different committees what that correlation would actually do to cool the market. It remains to be seen. What I will offer is an alternative, and I will agree with my colleague. Working with provinces and municipalities, we need to look at banning foreign buyers who are in it for profit and investment from getting into the system. I believe that tool, which is not included, could actually cool the market more than what is being proposed in this legislation.
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Context: House Hansard - 47 - Mar/28/22
Mr. Tako Van Popta
  • Mar/28/22 3:46:50 p.m.
  • Watch
  • Re: Bill C-8 
Madam Speaker, I would support any programs that are effective in helping first-time buyers get into the market. It can be very challenging and very intimidating for first-time buyers to bid on a house. I have talked to many people in my riding who are desperate to get into a house, but they keep getting outbid by investors and they fail to buy the home they want. Yes, I would support anything that would help first-time buyers.
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