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Globe editorial: Justin Trudeau needs to make housing a primary federal responsibility
(www.theglobeandmail.com)
this post was submitted on 04 Aug 2023
93 points (90.4% liked)
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I love when the news tries to blame Trudeau for provincial issues instead of, y’know, the provincial leaders
I don't buy this idea. The feds have all sorts of things they can do. Can they solve the crises alone? Of course not. But they can sure as hell help.
Let's start with capital gains on the sale of a home...
What tools do they really have, other than money?
Really, what tools do the federal government have that can be used, and have effect, in local legislation?
They have the Canadian Mortgage and Housing Corporation (CMHC), the same people who currently provide mortgage insurance. In their original 1945 mandate, they were responsible for building housing for returning war veterans, as well as loans to purchase them. It was only later, in the 1980s, that the building part was dropped and they took up their current role.
So the federal government has the option of returning the CMHC to its original mandate.