Renters pan new housing policies
Canadian renters are not confident in Trudeau's housing policy outlined in the latest federal budget, a new poll says.
A majority of respondents are aware of the Liberal government's housing measures but most were either not confident in or unsure about its ability to ease housing woes, according to the survey, carried out by rentals.ca.
“While there is a clear recognition of the government's efforts, the prevailing skepticism and concern among renters highlight the challenges ahead,” the report concludes.
The survey asked 437 renters and landlords across Canada about their thoughts on the minority government's policy initiatives.
More than half of respondents (55 per cent) said they were aware of the housing-related provisions outlined in the latest budget. Only 10 per cent reported feeling confident in the budget's ability to “positively impact the housing crisis.” Some 16 per cent thought it would make housing worse and 26 per cent thought it would have no impact. The rest (47 per cent) said they were still unsure.
Renters believed prospects of owning a home in the near future was largely out of reach, with 67 per cent saying it was unlikely and only eight per cent saying it was highly likely.
A large majority of renters (74 per cent) said the current government has been ineffective in addressing affordability.
Only two per cent called the effort effective.
The Liberal government earmarked $8.5 billion in new spending for housing with a pledge to add close to four-million new homes by 2031.
For renters, the budget proposes changes to the Renter's Bill of Rights.
“The government intends to crack down on renovictions, introduce a nationwide standard lease agreement, and require landlords to disclose historical rent prices of apartments,” the budget says.
The government will also allow rental payment history to influence credit scores, it adds.
Plans include a $1.5-billion program to allow non-profits and government partners to “acquire units and preserve rent prices in the long term,” according to a media statement last month.
The budget also adds $15 billion to Apartment Construction Loan Program, which will go in part toward building 30,000 in new apartment buildings. Other plans include a $50 million investment in building modular or 3D-printed homes and first-time homebuyer benefits.
The survey also received write-in responses, which highlighted that rent-control measures and government intervention to stabilize rent prices were needed, rentals. ca's survey says.
“Immigration and foreign investment were also cited as significant factors impacting the availability of rental housing.”