March 23, 2017
To Host Anna Maria Tremont of CBC Radio One’s ‘The Current’:
I was very disappointed in Finance Minister Bill Morneau’s responses to your question about the ways his new federal budget is helping ordinary Canadians. He seemed to suggest the budget was doing great things when it saved some citizens a couple of hundred dollars per year due to the Liberal largesse. The elephant in the room for me as an East Toronto resident, a senior living in an apartment, originally by choice (my wife and I once owned a home but could not afford to now) which you didn’t challenge him on, is the exponential rise in the price of home ownership.
This loss of economic ability for young people wishing to buy a home in Toronto or anywhere in the GTA is a staggering setback compared with a few hundred dollars gained in tax reduction. I was shocked that this incongruity was not even mentioned. The numbers of families in Ontario and in Toronto particularly, on waiting lists for affordable housing are contained in a Star article from last year –https://www.thestar.com/…/ontarios-affordable-housing-wait-…
Ignoring these numbers of suffering people is shameful!
Even Ontario Finance Minister Sousa has begun to talk about the need to cool housing prices caused by real estate investors ‘scalping’ whole new subdivisions, making it impossible for young or low income families to ever own a home. And I don’t mean a suburban house with a yard. I am talking about the need for a federal housing strategy that will fund the tear down of old housing stock in Toronto to replace it with perhaps 4 or 5 storey housing units – as in Brooklyn – some of which can be purchased and some rented at affordable rates.
This Liberal government and its tone deaf, blind budget is a disaster. If I were a young person I would be getting ready to revolt against the advantage older home owners have – unless the owners are planning to share their windfall by buying homes for their children.