The World Forum - May17th, 2024

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Canadians back tax on housing inequity: poll

 


A new survey shows that the majority of Canadian residents would support a modest price on housing inequity, with many calling for a surtax on homes valued over $1 million – comprising 10 per cent of the country’s housing market.

Such a tax measure could raise around $5 billion per year in revenue, as reported by BNN Bloomberg.

The data, collected by Generation Squeeze, a Canadian nonprofit, points to unified homeowner hopes of combating unaffordability.

The poll surveyed 1,010 Canadian adults. Fifty-seven per cent of respondents living in million-dollar homes said they would be in favour of “putting a modest price on housing inequity.”

In October, the average home price in Canada dropped to $756,200, down 1.2 per cent from the previous month, according to a report released by the Canadian Real Estate Association on Tuesday.

Many poll respondents claimed that taxing support would rise if revenue increases went toward more affordable housing units.

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