Aug 19, 2021
By Gavin Day
After spending Wednesday campaigning in Quebec, Conservative leader Erin O’Toole crossed over into Ontario to talk about his party’s housing plan.
The Conservatives say they can bring down housing costs by building a million homes over three years. They also plan to raise barriers for foreign investors looking to park their cash in Canadian real estate.
O’Toole says he welcomes foreign investment but says if they insist on investing in housing, that they should add to the rental housing stock in the country.
“The one thing I’m hearing across the country is people can’t keep up with the rising costs of living,” said O’Toole. “Wages aren’t going up. Canad’s recovery plan is all about getting wages up, getting people working, tackling rising prices and giving Canadians a break.”
The Canadian Real Estate Association says the average home-sale price spiked 26% year-over-year in June to $679,000. Activity also rose 14%.