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 CREA’s non-partisan Political Action Committee (PAC) and provincially, through the AREA’s 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 homebuyers for two years, similar to the temporary stimulus measure applied to help alleviate the 1990s recession.

Revitializing 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 underutilized 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 suffers.

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 investors.

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;
• foregone 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 homeownership market, revitalize neighbourhoods and build stronger communities.