Plan to Regulate the Housing Market
Charlottetown, PE - Over the last four years of the Dennis King government, housing has gotten more expensive, supply has not kept up with demand, and little has been done to improve the regulatory environment for developers and those seeking shelter.
Government can improve the regulatory environment to build more housing, while also taking steps to reduce and prevent the financialization of a basic human need. A Green government will:
Protect Islanders from illegal rents by establishing a rental registry.
Amend the Planning Act and work with municipalities to improve development processes, promote density, encourage development in transit corridors, and reduce the loss of farmland to development.
Promote inclusionary zoning to encourage the creation of more affordable units in new housing projects.
Create a speculation and flipping tax to discourage financial practices that unduly raise the cost of housing for Islanders.
End blind bidding to ensure that the home purchase process is transparent.
Review the Down Payment Assistance Program to ensure it is continuing to meet the needs of first-time homebuyers, wherever they choose to live.
Produce and publish better data on the financialization of our housing market.
Move toward Lands-Protection-Act-styled regulation of housing to protect Islanders against speculative housing activities, and appoint a commissioner to make recommendations on its design and implementation.
Quotes:
“Many Islanders are concerned about the financialization of our housing supply and the barriers to building new housing. A Green government will make sure our planning laws support new and forward-thinking development. We will also make sure that Islanders aren’t shut out from finding affordable housing, whether they are a tenant or someone looking to buy their first home.”
Peter Bevan-Baker, Leader of the Green Party of PEI
“Every day I hear from neighbours, friends and community members who are struggling to find housing. It’s unacceptable that safe and affordable housing - something that is a human right - is out of reach for so many Islanders. We need better regulation of our housing market so that PEI can become a place where young people can afford to stay and put down roots, where new Islanders can come and make a home, and where our seniors can be safe in their retirement.”
Joanna Morrison, Green Candidate for District 11, Charlottetown-Belvedere
For media inquiries, please contact:
Jonathan Hamel
Director of Communications, Green Party of PEI
Tel: (902) 916-7816
Email: jonathan.hamel@greenparty.pe.ca
