Mr. Speaker, a few weeks ago, I asked the Minister of Housing if he would join Conservatives in axing the federal GST on housing so more Canadians could finally buy a home. Axing the federal GST would spark 30,000 new developments across the country per year. This tax cut would save $40,000, or $2,200 a year in mortgage payments on an $800,000 house. Unfortunately, the Minister of Housing refuses to remove this burden from Canadians' shoulders and still clings to a housing accelerator fund that does not build homes.
The NDP-Liberal housing accelerator fund has failed Canadians. Toronto received $471 million and it increased development cost charges by more than $20,000; Ottawa received $176.3 million and it increased development charges by between 11% and 12%; and my hometown of Abbotsford received $25.6 million and it increased development charges by 54%. Indeed, even in the letter Abbotsford sent to the Minister of Housing after he requested a supportive letter from it, my own municipality could not tell the minister how many homes have in fact been built with the housing accelerator money it has received.
It is unfortunate that the government promised to lower rents, mortgages and housing prices, but has instead doubled these costs for Canadians. Before the Prime Minister took power, it took 25 years to pay off a mortgage. Now it takes 25 years just to save up for a down payment. Things have gotten so bad that some families believe they will never be able to pay off their mortgage, let alone get one. Only in Canada has housing become so unaffordable so quickly. Home prices are expected to once again break the records they set just recently.
Between 25,000 and 35,000 people are homeless on any given night in Canada; 30% of Canadians who are homeless come from indigenous communities; and 22% of shelters are aimed at young homeless in Canada, while 20% of people experiencing homelessness are between the ages of 13 and 24 years of age. Also, 88% of renters say their goal of owning a home is out of reach, so much so that 28% of Canadians are considering moving to another country for greater affordability.
Back in October 2015, a month before the Prime Minister took office, it only took 39% of the median pre-tax household income to cover home ownership costs; now it is about 60%. Although it used to be normal for working-class youth to buy homes, 80% of Canadians now tell pollsters that home ownership is only for the very rich. Removing the GST on new homes under $1 million would not only spark new developments across Canada; it would also remove a tax burden for new homeowners in Canada.