Canada’s housing crisis is at a breaking point, and each major federal party has unveiled ambitious plans to tackle it. Whether you’re a first-time buyer, investor, or renter in Edmonton, here’s a clear breakdown of what the Liberals, NDP, and Conservatives are proposing—and how their approaches differ. 

Legal jargon and sources listed at the end of the article. In no particular order, here are the housing plans for the top 3 parties.

🏛️ Liberal Plan: Build Canada Homes (BCH)

The Liberals, under Mark Carney, aim to double Canada’s homebuilding rate to 500,000 homes per year. Their centerpiece is a new federal agency, Build Canada Homes (BCH), which will:

1. Develop affordable housing on public land and manage large-scale projects. An example of Federal land used for housing is the Edmonton community of Griesbach, which was built on a former Canadian Forces Base.

2. Provide $25 billion in debt and $1 billion in equity financing to boost prefabricated and modular construction (Learn about Debt Financing and Equity Financing). What is less clear is how equity financing will be used, as generally you can’t purchase shares in a crown corporation unless it’s a mixed public-private enterprise owned in part by the private sector and government in joint partnership

3. Offer $10 billion in low-cost financing for affordable, supportive, Indigenous, student, and seniors’ housing

4. Cut municipal development charges by 50% for five years and reintroduce tax incentives for rental housing

5. Eliminate the GST on homes under $1 million for first-time buyers, saving up to $50,000 (this would only impact Alberta buyers purchasing homes direct from builders in most cases. Resale/previously loved homes are generally not subject to GST, but I’m not an accountant, so if you’re curious, call one (I can refer several)

6. Streamline permitting, standardize housing designs (making time to completion shorter), and building sustainably with low-emission materials

🧱 NDP Plan: 3 Million Homes by 2030

The NDP, led by Jagmeet Singh, propose building 3 million new homes by 2030, with a strong focus on affordability and renters’ right. Their strategy includes:

1. Replacing the Liberal Housing Accelerator Fund with a permanent $16 billion national housing strategy

2. Canadian Homes Transfer - Incentivizes cities to build quickly, legalize multi-unit homes, and prioritize housing near transit

3. Communities First Fund - Supports provinces in helping cities lay the foundations for building more homes faster, while requiring rent control and reduced development charge.

4. Implementing national rent control to prevent price gouging and renoviction.

5. Mandating that 20% of housing in every neighborhood be non-market (e.g., co-ops, public housing)

6. Freezing development charges and working with provinces to halve the development charges that slow down construction

7. Training over 100,000 skilled workers, including newcomers, to meet construction demand

   The NDP’s plan emphasizes public investment, affordability, and protecting renters from corporate landlords. I have no idea why this paragraph won’t align left, if you’re curious.

🏗️ Conservative Plan: 2.3 Million Homes in 5 Year

Conservative leader Pierre Poilievre promises to build 2.3 million homes over five years by reducing government intervention and empowering the private sector. Key elements include:

1. Requiring cities to increase housing construction by 15% annually, with federal funding tied to performance.

2. Selling 15% of federal buildings and land to be converted into affordable housing.

3. Eliminating the GST on new homes (purchase direct from the builder) up to $1.3 million, saving buyers up to $65,000.

4. Incentivizing municipalities to cut development charges, potentially saving an additional $50,000 per home.

5. Mandating pre-approved high-density housing near transit stations.

6. Streamlining approvals by enforcing a 60-day limit for CMHC to process housing applications.

The Conservative plan focuses on reducing bureaucracy, cutting taxes, and leveraging private investment to accelerate homebuilding.

🔍 Comparing the Plans

Each party offers a distinct approach to addressing Canada’s housing crisis. The Liberals focus on a hybrid public-private model with significant investment in prefabricated construction. The NDP emphasize public investment, affordability, and renters' rights. The Conservatives advocate for reducing government intervention, cutting taxes, and leveraging the private sector. Note that in Alberta, renter’s rights primarily fall under the Residential Tenancies Act.

For Edmonton residents, these plans could have varying impacts on housing availability, affordability, and the speed of new development. Staying informed about these proposals can help you make decisions aligned with your housing needs and values. If you have any questions about this topic, or anything else, call me at (780) 232-2064.

Readers should note that this article is for information and I’m not compensated by or affiliated with any federal political party, including those not mentioned in this article. Information presented is sourced directly from each party’s official website. Images used are in the public domain.