REALTOR® Political Action
From a commitment to entrench property rights in our constitution to supporting
legislation to use RRSP funds to purchase a home, nationally, through the
CREAs non-partisan Political Action Committee (PAC) and provincially,
through the AREAs Alberta Political Action Network (ARPAN), REALTORS®
continue to support many issues.
Raise the Loan Limit in the Home Buyers’ Plan to $25,000: REALTORS® thank the government for raising the RRSP withdrawal limit under the Home Buyers’ Plan (HBP), and for recognizing the important role it plays in stimulating the economy and making home ownership a reality for thousands of Canadians. REALTORS® recommend the government permanently index the HBP withdrawal limit to inflation to ensure it never loses its buying power. We also recommend the plan be extended to all home buyers for two years, similar to the temporary stimulus measure applied to help alleviate the 1990s recession.
Revitalizing our Communities: For a number of years, REALTORS® have been calling on governments at
all levels to take steps to provide the necessary tools to assist the private
sector in redeveloping neglected and/or abandoned sites identified as brownfields.
These sites are often located on prime real estate in Canada’s urban
centers. They are not being utilized to their full potential due to a variety
of administrative and legislative barriers. It is estimated there
are more than 30,000 brownfield sites in Canada today.
Reinvestment in Real Property: Current capital
gains tax regulations discourage the leveraging of under utilized wealth
in the economy and act as a barrier to the labour mobility which is essential
to Canada's economic prosperity. As a result, Canada's international competitiveness
The proposed change would help make the federal government an active
participant in the regeneration and intensification of urban neighborhoods.
Regeneration requires properties to be turned over and made available for
renovation and upgrading.
The current situation actually creates a disincentive for property holders
who otherwise might consider a sale and reinvestment, but chose not to because
of the impending tax burden. The situation is particularly punitive for small
Affordable Housing: to support affordable housing initiatives in Alberta
communities. Lack of affordable housing represents lost opportunity to
every community, resulting in:
- economic insecurity, household stress and poor health which place
a great pressure on a wide range of community services;
- lower neighbourhood
property values due to unstable home ownership and residency;
economic development opportunities, retail activity and real estate sales;
- lower municipal revenues, both from provincial grants and real property
taxes due to smaller population of homeowners and local workers.
Addressing affordable housing can increase the home ownership
market, revitalize neighbourhoods and build stronger communities.