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Decentralized Democracy

House Hansard - 106

44th Parl. 1st Sess.
October 3, 2022 11:00AM
Context: House Hansard - 106 - Oct/3/22
Ms. Jenny Kwan
  • Oct/3/22 12:45:03 p.m.
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  • Re: Bill C-31 
Madam Speaker, what we are seeing in the housing crisis is this: We are losing housing stock faster than we can build it. The reality is that wealthy investors are coming in and buying up the stock, and in that process, under the real estate investment trusts, for example, they get preferential tax treatment. They do not have to pay taxes at the corporate rate, so these investors are getting a windfall, and we have to stop that practice. Housing should not be treated as a commodity. It should be ensured that it will be there to house people. That is why the NDP is calling for the government to put a moratorium on the financialization of housing, support non-profits to get into the market to buy the stock and stop the preferential tax treatment.
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