A united government would buy 10,000 houses or flats over four years for resale at an average of 25% less.
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That was the promise made by Gabriel Nadeau-Dubois on Monday morning in Longueuil to partially stem the housing crisis.
Quebec Solidaire is inspired by an American model of community land trusts, where the state owns the land, reducing the cost of acquisition by a quarter according to the creation.
When the property is sold, the buyer must return the house to the government for a pre-agreed profit. He will also pay “low” rent to cover property taxes.
The homes will be purchased by creating a $1 billion fund managed by the Société d’Habitation du Québec and managed by local organizations.
How to choose buyers?
“To solve the housing crisis, we need more social housing, but we also need affordable housing for the middle class. This is the pledge I am making today: 10,000 affordable properties everywhere in Quebec. 10,000 homes in the first period are 25% cheaper, risk-free and without overbidding,” QS spokesman Gabriel Nadeau-Dubois said.
It remains to be seen how the lucky buyers will be selected to benefit from this 25% discount on the regular price of a home. Mr. Nadeau-Dubois promises priority will be given to first-time buyers, but refuses to talk about the lottery system for many who might be interested.
“It’s not the Quebec government’s job to decide one by one who’s going to have a house,” he said. Local bodies are responsible for setting the rules, he explains.
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