As far as I'm concerned, it would be a game changer.
I visit lots of communities in my capacity as commissioner, and most communities I visit have a 10-year waiting list for housing. Most of the communities that have third-party management have it as a direct result of individuals not paying their mortgage on reserve lands, and it's because they end up with no equity at the end of it.
This changes that.
This allows an individual who is “mortgageable”, who has a steady job, and who has a good credit rating to go to the bank of his choice and get a mortgage the same way any other Canadian would.
One of the aspects I didn't talk about was the ability to be bonded. A lot of the communities that are now acting as proponents of the proposal are saying they want to be bonded so they can have businesses that get contracts, whether they be for road building, construction, or working in the mining industry, which a lot of the communities are moving towards now. So bonding is another aspect.
There is the passing on of wealth. People are saying we have property rights on reserve now, but my brother died intestate in 2010, and guess who looked after his estate? It was the Department of Indian Affairs, the owners of the land, not his family.
That changes this.
It empowers the individual to begin to think creatively, to become more productive, and to be part of the local, regional, provincial, national, and therefore, global economy. Right now we're not a stakeholder in that.