The Federal Green Party outlined its election platform on its website as of 18 April 2025. According to this document, addressing the housing crisis is one of the party’s priorities.
In terms of affordability, the party pledges to ensure mortgages do not exceed 30% of a person’s income. They also plan to get the government involved in the business of building houses again, similar to programs Canada had in the past.
To summarize some of the details that have been put forward regarding what the Green Party plans to do if elected on 28 April 2025, the party says they will use covenants to make sure housing stays affordable, close loopholes to prevent money laundering in real estate, remove unfair tax advantages for real estate investment trusts (REITs) and prevent corporations from buying single family homes.
The Green Party also pledges to “launch the biggest public housing construction program since the 1970s,” which it says would use local Canadian materials and create jobs. This would come by restoring the mandate of the CMHC to finance and build non-market housing, which the agency did from after the Second World War until the 1990s. The party plans to build 1.2 million non-market, permanently affordable homes over five years and eliminate the GST on materials used to build affordable housing.
A permanent ban on foreign buyers of residential real estate is another piece of the party’s platform, which would extend the current temporary foreign buyer’s ban into an ongoing piece of legislation. The Green Party also aims to expand rent control and tenant protections.
If you want to buy a home after this announcement, remember that the policies are not yet in place. You can speak to a real estate agent and mortgage advisor for more guidance in the meantime.
