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Local candidates say NDP’s plan will help young northern families afford homes

A release states the party will target ‘big money investors’ to cool the housing market
As the cost of housing in Sudbury soars, Jagmeet Singh and the NDP announced in a release that their plan would cool the housing market and allow young families to afford their own homes, said NDP candidates Nadia Verrelli (Sudbury) and Andréane Chénier (Nickel Belt).

“Young people in our region who want to buy a home in Sudbury are being priced out because of a runaway housing market," said Chénier.  "Justin Trudeau had six years to do something for young families who can’t afford their own home in our community, but he chose to do nothing.  Trudeau sided with big corporations and big money investors who are inflating the price of homes.  That’s not fair to young families here."   

The Canadian Real Estate Association reported that the average price for a home in Greater Sudbury increased 33.8 per cent from February 2020 to a year later.

“In Sudbury, young people are facing the highest housing prices in northern Ontario combined with less opportunities caused by the massive cuts at Laurentian under the Trudeau Liberals.  The city is also facing a homelessness crisis.  We can’t afford continued inaction by Justin Trudeau,” said Verrelli.  "New Democrats will help young people afford their homes right here in Sudbury and we will tackle the housing crisis."  

The release states the NDP’s plan for affordable homes will get “big money” out of Canada’s housing market and help young families buy a home they can afford.  The NDP states they would go after big money investors by putting a 20 per cent Foreign Buyer’s tax on the sale of homes to individuals who are not Canadian citizens or Permanent Residents. The NDP would target money laundering and organized crime within the housing sector by making it harder to hide behind nameless companies and giving regulators more teeth.   

The release states an NDP government would also build 500,000 affordable homes in ten years.