The NDP is promising 1.5 million new homes over the next decade to ease the housing crunch. The plan includes more duplexes and triplexes, affordable units and an easing of rules so that garages and basements can be turned into rentals.
“We have a plan that will give you a lifeline, give you that chance to own your own home,” said Leader Andrea Horwath at a campaign stop in Burlington on Friday morning on day three of the election campaign leading up to the June 2 election.
First-time buyers, with combined incomes of less than $200,000, would be able to get loans to help with down payments that don’t have to be repaid until they move and the property is sold. The party estimates the plan would initially cost $3.7 billion over four years, but would be partially offset by a speculation tax and vacancy taxes, and taxes on pre-construction condo flipping.
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