As affordability hits record lows, the battle for your home- and your vote- heats up

The Canadian dream of homeownership is hanging by a thread. With interest rates high, prices out of reach, and rent eating up paycheques, many Canadians are left wondering: Who will actually fix this housing crisis?

In one corner, we have Pierre Poilievre, pushing market-driven solutions, tax cuts, and red tape removal. In the other, Mark Carney is rolling out big public investment plans and building homes on federal land. Both say they have the answer. But what do their policies actually mean for you?

Let’s break it down.

Where We Stand: A Country Struggling to Afford Shelter

• In Q4 2023, housing costs took up 63.8% of the average Canadian household’s income- an all-time high.
• It’s slightly better now: 58.4% as of Q3 2024- but it’s still painful.
• In cities like Vancouver, housing eats up 96.7% of income.
• In Toronto, the average home price is $1,073,900– down slightly, but still sky-high.

According to Habitat for Humanity, 82% of Canadians say housing stress is hurting their health. More than half are skipping essentials like food and education just to keep a roof over their heads.

Poilievre’s Plan: Cut Red Tape, Slash Taxes, Build Fast

Pierre Poilievre’s approach is simple: let the market build. His three-part plan focuses on boosting private development through incentives and accountability.

🏗️ Build More, Hold Cities Accountable

• Municipalities must increase housing starts by 15% yearly to access full federal funding.
• This tactic has been tried before, with mixed results- bureaucracy still slows things down.

💸 GST Relief for New Homes

• Originally aimed at homes under $1M, Poilievre now wants the GST exemption to cover homes up to $1.3M.
• He believes this could spark construction of 36,000 new homes per year.

🗂️ Cut Bureaucracy and Redirect Funds

• Wants to eliminate Liberal programs like the $4B Housing Accelerator Fund.
• Would use that money to fund GST cuts and speed up private construction.

Carney’s Vision: Public Investment Meets Innovation

Mark Carney’s plan is bolder- and more centralized. He wants to build housing directly and invest heavily in innovation, affordability, and equity.

🏘️ Build Canada Homes (BCH)

• A new federal agency to build homes on public land.
• Would streamline operations from multiple programs under one roof.

🔧 Double Construction with Prefab Housing

• $25B in loans + $1B in equity for prefab builders.
• Could cut construction time by 50% and reduce costs by 20%.

🛠️ More Workers, Fewer Delays

• Invests in training for skilled trades- something the industry badly needs.

💰 Targeted GST Cuts for First-Time Buyers

• GST exemption only for first-time buyers under $1M– helping those who need it most.

🏘️ Expand Community Housing

• Plans to double co-ops and non-profit units.
• Easier financing for small developers and Indigenous communities.

🌍 Control Demand with Immigration Cap

• Proposes a temporary cap on immigration until housing supply catches up.
• Also supports tax reforms to encourage development.

What About Interest Rates?

The Bank of Canada cut rates in March 2025, and more cuts could follow- some experts predict rates could hit 2.0% to 2.75% by year-end.

But that may not be enough relief. Nearly 60% of mortgages are up for renewal by 2026- and many will still face higher payments.

Who’s the Better Bet?

Both plans tackle the supply problem—but in very different ways.

Policy Area	Poilievre	Carney
GST Relief	Broad (up to $1.3M, all buyers)	Targeted (only first-time buyers < $1M)
Construction Strategy	Private builders, incentives	Public-private mix, prefab innovation
Red Tape	Wants to cut it, but offers few details	Specific reforms to zoning + permits
Community Housing	No major focus	Major expansion + CMHC reform
Immigration	No cap proposed	Temporary cap linked to supply

Bottom line:
Poilievre leans market-first with tax incentives. Carney blends innovation and public building with targeted help. Neither will fix housing overnight- but both aim to expand supply, which experts agree is key to long-term affordability.

Why This Matters for You

Whether you’re hoping to buy, sell, or invest, housing policy will shape your next move. Poilievre’s plan could fuel faster private builds- but may favor higher-priced units. Carney’s approach could bring more affordable and community-based options, especially in cities like Toronto.

Final Takeaways

• Housing affordability is still at crisis levels in Canada.
• Pierre Poilievre focuses on the private sector, tax cuts, and faster permits.
• Mark Carney proposes government-led building, innovation, and targeted relief.
• Interest rates are falling, but renewals will still sting for many homeowners.
• No one-size-fits-all solution—your next home may depend on who wins the next election.

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