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Decentralized Democracy

House Hansard - 64

44th Parl. 1st Sess.
May 4, 2022 02:00PM
Context: House Hansard - 64 - May/4/22
Mr. Daniel Blaikie
  • May/4/22 6:13:10 p.m.
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  • Re: Bill C-19 
Madam Speaker, I will start with one specific example. A lot of co-op housing and other non-market housing was supported by the federal government under operating agreements for decades, but those operating agreements were tied to mortgages. When those agreements started to expire under the Harper government, they were not renewed. There was a promise by the Liberals to renew those agreements, but they were never renewed under the same terms and conditions. I do not think it was a success. Part of the problem is that investors, in some cases, are moving in on those very properties. When a board comes to the conclusion that it cannot manage that non-market housing with lower rents in the absence of federal operating funding, it makes the housing a ripe target for something like a real estate investment trust to get a bunch of units on the cheap. It throws a bit of money into them to fix them up and then rents them out at much higher prices that displace all the residents who were there. That is just one example of where poor federal policy, under both Liberals and Conservatives, has contributed to the depletion of affordable non-market housing units. Keeping those units is part of addressing the supply problem. If we are losing more units than we are building, we cannot get ahead.
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