In October 2015, one month before Justin Trudeau became Prime Minister, it took only 39% of the median pre-tax household income to cover home ownership costs. Now, it takes 60%.
Cornwall and SD&G is no exception to skyrocketing housing costs. According to the Cornwall & District Real Estate Board, housing prices have doubled to over $435,000 since the Liberal’s came into office in 2015. Rents, downpayments, and mortgages have more than doubled too.
Eighty percent of Canadians tell pollsters homeownership is only for the very rich. There are homeless encampments springing up in towns and cities across Ontario, including in Cornwall.
In Ontario and British Columbia, government charges account for more than 30% of the cost of a new home. In Ontario, 39% of the total taxes on a new home go to politicians and bureaucrats in Ottawa.
Canada had a promise: that if you work hard, you’ll earn a powerful paycheque that buys affordable food and homes in a safe neighbourhood.
That promise, like everything after 9 years of Justin Trudeau, is broken.
Only Common Sense Conservatives will restore Canada’s Promise. One way we will do this is by axing the sales tax on all new homes under $1 million. This tax cut will save families up to $2200/year on their mortgages and spark the construction of up to 30,000 new homes.
Brad Robertson, President of the Cornwall Construction Association has endorsed our plan:
“The proposal to remove the GST on new home builds will help get more homes built and help people achieve their dreams of home ownership. In Cornwall and SD&G, we are experiencing major population growth, but the lowest demand for new homes since the 1980s. Cutting the GST on new home builds would be a big, instant, and positive move to reducing the tremendous amount of unnecessary costs and taxes to building homes in Canada.”
This big homebuyer’s tax cut means less money for politicians and bureaucrats in Ottawa and more money for you and your family. It’s just common sense.
