this post was submitted on 21 Mar 2025
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First time home buyers will not be charged GST (5%) when buying a home, as long as the place they're buying costs less than $1M. This means that people buying a home for the first time will save up to $50k on their purchase.

Edit: Note, GST is mostly only charged when buying newly built homes, so this won't have any effect for people buying used homes.

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[–] cyborganism@lemmy.ca 29 points 3 days ago (38 children)

Same shit different PM.

These people don't have the fucking cojones to do the right thing and just make foreign ownership of residential homes illegal. And make it illegal to have investment vehicles based on residential properties like ETFs. And straight up make it illegal for a publicly traded company to own residential property. And limit ownership of residential properties per person. And ban AirBnB and the like.

But nooooo. Just make it even cheaper for the already wealthy people to buy even more peppery.

[–] ninthant@lemmy.ca 29 points 3 days ago* (last edited 3 days ago) (17 children)

Many of these things you’ve suggested have been tried in various parts of Canada, and while they feel good they haven’t been effective at lowering prices.

We need to build more homes. That’s it. That’s the thing we need to do. Build homes at a faster rate than we add potential new homeowners. Block nimby laws that prevent density and keep building until the prices go down.

Like markets? Enable the market to build em. Socialist? Have the government build em. Someone’s got to. If you want to focus on Airbnb and other feel good stuff fine I won’t stand in your way if we also just build more goddamn homes.

[–] sbv@sh.itjust.works 8 points 3 days ago (15 children)

We need to build more homes. That’s it. That’s the thing we need to do.

We're 3 million homes in the hole according to CMHC. Nobody is pretending we're gonna get those built in the next five years. Along with building houses, increasing density, and reducing limitations on construction; we need to lower the cost of houses.

Like the Lemmite up thread says: tax unreasonable house gains, and disincentivize rentals.

We're in a crisis, we can't wait to build.

[–] MajorMajormajormajor@lemmy.ca 5 points 2 days ago (1 children)

Another part to consider is how house sizes have gone up by a fair margin over the past 50 - 70 years. If you look at old bungalows built after the war they are 1000 - 1500 sqft homes, modern builds (around me at least) are all 2500+ sqft. So part of why homes are more expensive is that we're building more home on each lot (just speaking on fully detached homes here).

A "starter home" isn't really a thing anymore.

[–] sbv@sh.itjust.works 4 points 2 days ago

It seems like we have lots of single bedroom starter condos at 500-900 sqft, but I think those are designed to appeal to investors. 😬

I think a lot of people would be open to smaller homes/condos (1200 sqft) if they were affordable and nice.

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